30th Oct 2015 08:21
LONDON (Alliance News) - Cenkos Securities PLC on Friday kicked off the process for its plan to return GBP8.0 million to shareholders through a tender offer for some of their shares.
The UK securities firm said that up to 4.45 million shares, equivalent to a 7.28% of the company, will be purchased at 180 pence each.
News of the tender offer came on September 25 alongside a 7.0 pence per share interim dividend, as Cenkos reported a GBP18.6 million pretax profit on revenue of GBP53.1 million in the first six months of 2015.
The results of the tender offer are due on November 25. Smith & Williamson Corporate Finance, nominated adviser and broker to the company, is acting for Cenkos.
Shares in Cenkos were up 1.1% at 179.00 pence on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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