29th Oct 2013 15:33
LONDON (Alliance News) - Petards Group PLC, the AIM quoted developer of advanced security and surveillance systems, said Tuesday that its offer to acquire Water Hall Group PLC has been extended to December 11.
Petards said that the offer will continue to remain open to acceptance until 1pm GMT on December 11, after which the offer will lapse.
Petards said that as of October 24, it had received valid acceptances of 92.63% of existing shares in Water Hall from its shareholders.
The compulsory acquisition procedure is expected to be completed on, or shortly after, December 11.
Petards shares were trading 7% higher Tuesday afternoon, at 12.30 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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