8th Mar 2023 13:10
Seraphine Group PLC - London-based maternity wear retailer - Shares are expected to be cancelled from trading on the London Main Market on or around April 6, after takeover offer by Mayfair Equity Partners LLP is declared unconditional. Mayfair either owns, or has acceptances for its offer for, 78% of Seraphine shares. Mayfair had previously set a 90% acceptance condition for the offer but on Wednesday waived this down to 50%. The offer remains open for acceptances until further notice, Mayfair says, though it warns that cancellation from the stock exchange will reduce the liquidity of Seraphine shares. The offer, agreed back in January, is for 30 pence per share, valuing Seraphine at GBP15.3 million.
Current stock price: 29.63p
12-month change: down 44%
By Tom Waite, Alliance News editor
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