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IN BRIEF: Rotala takeover approved by majority of shareholders

15th Jan 2024 17:46

Rotala PLC - Tividale, West Midlands-based bus operator - The High Court of Justice in England and Wales makes an order sanctioning the scheme in which Rotala Group Ltd will take over the company. Rotala Group Ltd is a private limited company formed specifically for the purpose of the acquisition, owned by Rotala Chief Executive Officer Simon Dunn, Managing Director for North West Robert Dunn and Executive Chair John Gunn, among others such as the spouses of Simon and Robert Dunn. The takeover is expected to become effective on Wednesday, with shares being suspended from trading on AIM also on Wednesday. In November, an agreement was reached, with Rotala Group Ltd offering 63.5 pence per Rotala share, valuing the entire company at around GBP23.5 million.

Current stock price: 63.00 pence

12-month change: up 66%

By Greg Rosenvinge, Alliance News senior reporter

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