3rd Apr 2019 17:48
LONDON (Alliance News) - Bonmarche Holdings PLC on Wednesday said Sergei Spiridonov has stepped down from the board after BM Holdings Sarl sold its interest in the company to Spectre Holdings Ltd.
Spiridonov was BM Holdings' nominee and he has stepped down as non-executive director with immediate effect as a result of the disposal.
Bonmarche said Tuesday is considering the terms of an offer from Spectre that values the fashion retailer at GBP5.7 million after Spectre bought 26.2 million Bonmarche shares from BM Holdings - equivalent to a 52% stake.
Spectre is entirely owned by Edinburgh Woollen Mill owner Philip Day and was required to make a bid after acquiring the stake. The offer is priced at 11.445 pence per share, a 34% discount to Bonmarche's GBP8.7 million market value at close on Monday.
Shares in Bonmarche closed down 11% at 12.05 pence on Wednesday.
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