27th Oct 2023 10:03
Digital 9 Infrastructure PLC - invests in infrastructure of internet, including subsea and terrestrial fibre, data centres, and wireless networks - Says the board is considering divesting its entire stake in the Verne Global Ltd group of companies, following a shareholder consultation looking to maximise value for its shareholders. Says it has received indicative offers from interested parties to syndicate a majority stake in Verne Global to an unnamed "strategic capital partner", with executed terms expected to be announced in the fourth quarter of 2023. Says compared with the syndication, the board believes the proposed transaction would enable the company to "accelerate its balance sheet deleveraging, deliver the cash resources necessary for the company and group to strengthen their position, and further maximise shareholder value". Says it will provide a further update in "due course".
Current stock price: 37.65 pence, up 3.2% on Friday
12-month change: down 61%
By Greg Rosenvinge, Alliance News reporter
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