14th Jan 2019 11:38
LONDON (Alliance News) - CH Bailey PLC on Monday announced plans to de-list from the London Stock Exchange's AIM market, and then make a tender offer to shareholders.
CH Bailey has investments in leisure and property in Tanzania, South Africa, and Malta, as well as a UK engineering business.
As part of the de-listing, CH Bailey will enact a share consolidation and then arrange for broker Arden Partners PLC to buy any fractional entitlements held by shareholders at 100 pence per share. CH Bailey would then buy them back off Arden.
Shareholders who want to remain as shareholders after de-listing can increase their shareholdings "to the nearest multiple of 10,000" ahead of the consolidation.
CH Bailey has convened a shareholder meeting in London on February 6. It expects shares to be cancelled from AIM on February 14.
Shares were untraded on Monday, last quoted at a price of 92.50p each.