Hornby PLC (HRN.L)
18 Aug 2017
* Hornby-Phoenix UK fund said as at 1.00 p.m on 14 july,phoenix received valid acceptances in respect of 13.7 million hornby shares, representing about 16.2 pct Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)
* Hornby directors "believe that offer does not reflect an adequate premium for control and significantly undervalues hornby"
June 22 Hornby Plc, the maker of Thomas & Friends model train sets, said majority shareholder Phoenix Asset Management's offer to buy the rest of the company "significantly undervalues" the British toymaker.
* Board considers mandatory cash offer of 32.375 pence per hornby share "significantly undervalues Hornby and its future prospects"
Phoenix Asset Management on Wednesday it would become the majority shareholder in Hornby Plc and offered to buy the rest of the company, less than three months after thwarting efforts to oust the British toymaker's chairman.
June 21 Phoenix Asset Management on Wednesday it would become the majority shareholder in Hornby Plc and offered to buy the rest of the company, less than three months after thwarting efforts to oust the British toymaker's chairman.
* Phoenix UK Fund unconditionally agreed to acquire 17.6 mln Hornby shares from New Pistoia Income at 32.375 pence per share
* FY loss before tax of 9.5 mln stg versus loss of 13.5 mln stg year ago
* On 8 may 2017 it received a letter on behalf of ROY Nominees Limited and HSBC Global Custody Nominee (UK) Limited
* Directors unanimously consider that requisitioned resolutions, as put forward by requisitionists, are not in best interests of Co