28th Apr 2014 10:59
LONDON (Alliance News) - Pochin's PLC Monday said it has once again extended the deadline to allow takeover discussions with Property Development Director James Nicholson and members of the Cedric Pochin concert party.
The civil engineering and property letting company said that discussions are still ongoing, and the new deadline for the parties to either to announce a firm intention to make an offer for the company or announce that they don't intend to make an offer is May 26.
Pochin's said that it remains in the best interest of shareholders for discussions to continue, but there is no guarantee of an offer at this point.
Pochin's first reported the takeover approach on December 19, 2013, and has repeatedly extended the offer deadline since.
Last week the firm reported that its construction division experienced a fall in activity levels in the period since January 31, but this has been offset by the commencement of replacement work. However, it said its property division is performing "satisfactorily" in both its investment and development activities.
The stock is untraded Monday. It was last quoted on Thursday last week at 39.11 pence.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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