11/17/2021 | Press release | Distributed by Public on 11/17/2021 08:44
WH Ireland advised the company throughout a formal sale process culminating in the offer, consummated by way of a scheme of arrangement all within the scope of the UK Takeover Code.
This included assisting the Independent Directors in determining whether the offer constituted a fair valuation of the company, whilst ensuring stakeholders' best interests were at the forefront of any recommendations.
The offer price of 30p per share represented a premium over the prevailing share price immediately before the company entered the formal Offer Period of 91.7%.
Adrian Hadden, Head of Corporate Finance at WH Ireland, said: "It was a privilege to advise such an iconic brand through an Offer Period that commenced during the darkest days of the COVID-19 pandemic, but ultimately culminated in a highly attractive outcome for shareholders."
Adam Pollock, Head of Corporate & Institutional Broking at WH Ireland, said: "We are delighted to be associated with such an enduring brand and helping deliver such a satisfactory result."