26th Jul 2019 14:47
(Alliance News) - Video production firm FFI Holdings PLC on Friday confirmed it will leave the London Stock Exchange following a takeover by Lumiere Acquisitions Co LLC.
Lumiere, a wholly-owned subsidiary of the 777 Group, earlier July bought 47.5 million FFI shares from FFI Chief Executive Steven Ransohoff and the Crystal Court Trust, a trust of which Ransohoff and his immediate family are the beneficiaries.
These shares were purchased at a price of 24.99 pence each, and following that, Lumiere held 68% of shares, triggering a mandatory takeover offer.
FFI expects to leave the LSE on August 28. Shares were down 1.5% on Friday at 25.12p.