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Noble Investments (UK) PLC Announces Possible Acquisition Offer From The Stanley Gibbons Group PLC

Thursday, 12 Sep 2013 02:00am EDT 

Noble Investments (UK) PLC announced that it has received an approach from The Stanley Gibbons Group PLC (Stanley Gibbons), which may or may not lead to an offer from Stanley Gibbons to acquire the entire issued and to be issued share capital of Noble, which would be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006. There can be no certainty that an offer will be made, however the Board of Noble anticipates that an offer, were it to be made, would be at an offer price of GBP2.55 per Noble share, of which GBP1.925 would be in cash and GBP0.625 would be in new Stanley Gibbons shares. The Board of Noble has indicated that it is likely to unanimously recommend such an offer, were it to be made. Stanley Gibbons reserves the right to change the form and the mix of the consideration proposed. The proposed acquisition would require Stanley Gibbons to carry out an underwritten placing of new Stanley Gibbons shares to raise gross proceeds of approximately GBP37 million. The new Stanley Gibbons shares to be issued to shareholders of Noble as part consideration for the acquisition of their Noble shares would be calculated at the issue price per Stanley Gibbons share in this placing. 

Company Quote

1.5 +0.62%
10:54am EDT