1st Nov 2019 15:33
(Alliance News) - Checkit PLC said Friday it plans to return GBP81 million to shareholders through a tender offer at 65.00 pence each following the sale of a major unit in September.
In September, Checkit - then known as Elektron Technology PLC - sold its former core connectors and components maker unit Bulgin for GBP105 million. After the sale, the business is now focused on its Checkit work management software.
On Friday, the company confirmed it planned to return GBP81 million of its Bulgin proceeds through a tender offer of 65.00 pence per share.
Shares in Checkit were 1.3% higher at 56.75 pence in London on Friday.
The tender offer is made to all qualifying shareholders on the register at the end of November 22.
By Ahren Lester; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
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