Pinewood Technologies Group (PINE)

Sector:

Retailers

Index:

FTSE Small Cap

381.50p
   
  • Change Today:
    -7.00p
  • 52 Week High: 795.00p
  • 52 Week Low: 312.00p
  • Currency: UK Pounds
  • Shares Issued: 87.12m
  • Volume: 1,392,335
  • Market Cap: £332.35m

Pendragon extends deadline for possible offer from Hedin Group

By Josh White

Date: Monday 21 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Pendragon announced a further extension to the put-up-or-shut-up deadline on a possible takeover by Hedin Mobility Group on Monday.
The company first announced on 26 September that it had received an unsolicited, preliminary and conditional proposal from Hedin Group over a possible cash offer for the entire issued and to-be-issued share capital of Pendragon, at 29p per share.

On 24 October, Pendragon confirmed that the deadline had been extended to 21 November to allow Hedin Group to finalise its necessary due diligence, which on Monday it said was "substantially complete".

"In order to finalise the necessary transaction documentation the company has requested, and the Takeover Panel has consented to, an extension to the date by which Hedin Group is required either to announce a firm intention to make an offer for Pendragon or to announce that it does not intend to make an offer," the Pendragon board said in its statement.

It said such an announcement now needed to be made by 1700 GMT on 9 December.

The deadline could still be further extended by the board of Pendragon, with the consent of the Takeover Panel.

"There can be no certainty that a firm offer will be made," the directors cautioned, adding that a further announcement would be made in due course.

At 0845 GMT, shares in Pendragon were up 7.23% at 28.95p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PINE Market Data

Currency UK Pounds
Share Price 381.50p
Change Today -7.00p
% Change -1.80 %
52 Week High 795.00p
52 Week Low 312.00p
Volume 1,392,335
Shares Issued 87.12m
Market Cap £332.35m

PINE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.63% above the market average42.63% above the market average42.63% above the market average42.63% above the market average42.63% above the market average
48.72% above the sector average48.72% above the sector average48.72% above the sector average48.72% above the sector average48.72% above the sector average
Price Trend
15.8% below the market average15.8% below the market average15.8% below the market average15.8% below the market average15.8% below the market average
Sector averageSector averageSector averageSector averageSector average
Income Not Available
Growth
14.71% below the market average14.71% below the market average14.71% below the market average14.71% below the market average14.71% below the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average

PINE Dividends

  Latest Previous
  Special Final
Ex-Div 23-Apr-24 18-Apr-19
Paid 07-May-24 30-May-19
Amount 24.50p 0.70p

Trades for 14-Jun-2024

Time Volume / Share Price
16:37 35,000 @ 381.50p
16:27 50,000 @ 382.00p
14:47 150,000 @ 381.40p
11:22 150,000 @ 385.75p
16:37 35,000 @ 381.50p

PINE Key Personnel

CFO Mark Simon Willis
CEO William Berman

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