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Blancco Technology applies for cancellation of shares

19th Oct 2023 17:57

(Alliance News) - Blancco Technology Group PLC on Thursday said it has made an application to the London Stock Exchange for the cancellation of its shares on AIM.

The Bishop's Stortford, England-based secure data erasure company shares closed at 222.02 pence each in London on Thursday

On Monday, Blancco said its takeover offer by funds managed by San Francisco, California-based private equity firm Francisco Partners has been declared unconditional after reaching 75.1% acceptances. This followed the funds buying a further 9.35% stake in Blancco.

Back in August, Blancco agreed to a 223 pence per share all-cash offer from Francisco Partners that valued the UK company's equity at GBP168.8 million.

By Sophie Rose, Alliance News reporter

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