LONDON (ShareCast) - (Sharecast News) - Planmatics said on Friday that it has received an additional letter of intent from shareholder Ophorst Van Marwijk Kooy Vermogensbeheer NV in support of its potential acquisition of Empresaria Group.
The letter, signed on 2 July and received by Planmatics on 3 July, confirmed Ophorst's current intention to back the offer for its entire holding of 1.64 million shares, or approximately 3.29% of Empresaria's issued share capital.

Combined with previously disclosed commitments, Planmatics said it now had support from holders of 30.06 million shares, representing 60.3% of Empresaria's share capital as of 3 July.

The proposed offer, first announced on 7 May, was being made by Planmatics, a newly formed entity backed by a consortium of Peter Gregory, Nigel Marsh and Ashok Vithlani.

Its indicative offer consisted of 10p per share in cash on completion, plus 50p per share in unsecured loan notes redeemable for cash after three years, carrying 2.6% annual interest.

The deal remained subject to due diligence and confirmation of funding, and could be implemented via a court-sanctioned scheme of arrangement or a conventional takeover offer.

At 0900 BST, shares in Empresaria Group were down 4.73% at 26.2p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE