18th Jan 2019 15:48
LONDON (Alliance News) - Online business procurement marketplace Maistro PLC said Friday a group of investors will hold more than 40% stake in the firm following a subscription deal announced late in 2018.
Maistro explained the concert party includes its major shareholder Charles Street International Holdings Ltd and its Charles Street co-owner Robert Keith, who currently holds a 24% voting stake and 29% economic stake in Maistro.
In November, the concert party agreed to invest GBP1.2 million in Maistro through a share subscription and an additional fundraise. This would see their voting stake in the firm rise to 42% and economic stake to 46%, Maistro explained on Friday.
The party will, therefore, seek a waiver from other independent shareholders in order to not have to make a general offer for the rest of the firm.
Shares in Maistro were 2.4% lower at 1.27 pence on Friday.