By Benjamin Chiou
Date: Tuesday 22 Aug 2023
LONDON (ShareCast) - (Sharecast News) - Shares in AIM-listed STM Group dropped on Tuesday morning after the financial services company once again extended its deadline to agree terms on a takeover by Pension SuperFund (PSF) Capital.
The companies announced back on 11 July that they had reached agreement in principle on the key terms of a possible cash offer for STM, which valued the company at 70p per share or £42m.
STM said at the time that, should a firm offer be made, it would "recommend it unanimously" to shareholders.
It had initially set an 8 August 'put up or shut up' deadline for a firm offer, which was then extended to 22 August. The company now says it has pushed this back again to 5 September.
"This deadline may be further extended with the consent of the [Takeovers and Mergers] Panel, at STM Group's request," the company said in a statement.
The shares were down 11% at 46.55p on Tuesday morning.
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Currency | UK Pounds |
Share Price | 56.67p |
Change Today | -0.83p |
% Change | -1.45 % |
52 Week High | 60.00 |
52 Week Low | 24.50 |
Volume | 2,200 |
Shares Issued | 59.41m |
Market Cap | £33.66m |
RiskGrade | 217 |
Value |
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Price Trend |
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Income |
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Growth |
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Latest | Previous | |
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Final | Interim | |
Ex-Div | 31-Aug-23 | 20-Oct-22 |
Paid | 19-Sep-23 | 16-Nov-22 |
Amount | 0.60p | 0.60p |
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