19th Oct 2018 10:05
LONDON (Alliance News) - Safestyle UK PLC said Friday that it is considering certain arrangements with NIAMAC Developments Ltd's shareholders to benefit its business and accelerate its recovery.
Safestyle shares were trading 13% higher at 56.58 pence on the back of the news.
The windows and doors maker however, denied that it is in discussions to acquire its rival NIAMAC, its business or its assets.
Safestyle was forced to clarify its stance after it became aware of "certain rumours in the market".
Earlier in September, Safestyle settled a court claim against NIAMAC, which trades a SafeGlaze UK.
In May, Safestyle made claims of trade mark infringement, passing off, misuse of confidential information, malicious falsehood and "various other matters" against NIAMAC.
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