13th Mar 2015 18:21
LONDON (Alliance News) - CLS Holdings PLC stepped up its tender offer plans on Friday, sending a letter to shareholders setting out the previously reported plans to buy one in every 80 of its shares.
CLS will pay about GBP10.5 million to shareholders if all 536,738 shares that can be purchased under the offer are acquired by the company.
The company proposed the tender offer, which has been set at 1,950 pence per share, earlier this month, when it reported a GBP236.8 million pretax profit for 2014, compared with GBP71.4 million in 2013, as it registered a GBP186 million gain in the valuation of its property portfolio.
CLS shares closed up by 0.2% at 1,702.00 pence on Friday.
By Samuel Agini; [email protected]; @samuelagini
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