23rd Aug 2021 17:56
Watchstone Group PLC - cash shell with remaining assets comprising litigation assets, contingent liabilities and cash - Notes Polygon Global Partners LLP receives acceptances for mandatory cash offer worth 34 pence per Watchstone share in respect of 560,550 shares, representing around 1.2% of Watchstone's issued share capital. When combined with Polygon's 30% stake, this figure stands at just over 31%. Polygon extends offer to August 31. "The board continues to recommend shareholders as a whole not to accept the offer for the reasons set out in its response to shareholders dated 23 July 2021," Watchstone says. Polygon in its statement on Monday says: "The offer provides a clear, immediate, cash reward for Watchstone shareholders in contrast to a uncertain, future, possible return depending on a number of external factors and risks."
Current stock price: 38.00 pence
Year-to-date change: down 34%
By Lucy Heming;Â [email protected]
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