13th Dec 2019 10:45
(Alliance News) - Proactis Holdings PLC on Friday said it is evaluating takeover offers for the company which could proceed to the final due diligence stage.
Shares in Proactis were up 4.0% at 52.00 pence in London in morning trading.
The spend management software and services firm entered a formal sales process in July, with expressions of interest then leading to "more advanced discussions" which included providing detailed financial information for the Proactis business.
Proactis said it is in the process of "evaluating a number of proposals" which could proceed to the final stage of due diligence.
"The board reiterates that there can be no certainty that any offer will be forthcoming or the terms of any such offer," said Proactis.
The company will be holding its annual general meeting on January 29. The AGM notice will also include details of a proposed capital reduction.
By Anna Farley; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
PHD.L