Elektron shares charged up by disposal

By
0 mins. to read
Elektron shares charged up by disposal
Master Investor Magazine

Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

The share price of AIM-listed Elektron Technologies (LON:EKT) climbed by 13.98% to 55.85p (as of 13:15 BST) after it entered a conditional agreement for the sale of its Elektron Technologies UK subsidiary, which is the holding company for its Bulgin business. The total cash consideration has been set at £105 million and net proceeds of the deal are expected to be around £94 million.

Executive chairman Keith Daley commented: “We have been working on a sale of Bulgin for many months and are delighted to have reached agreement on this deal which will realise significant value for Shareholders.

“Subject to shareholder approval, once we have completed the transaction the remaining group and team shall be able to focus all of our energies on Checkit. The vision is to create a global leader in real-time operations management software. The early signs of the Checkit/Next combination are encouraging and we view the future with enthusiasm and confidence“.

 

Take part in our poll

Of the stocks covered by Master Investor in the weekly Small Cap Round Up, which ones do you hold?


The Master Investor Show 2020 tickets are now available. Join us at the Business Design Centre on Saturday 28 March 2020.

Book your FREE tickets today using code: MIBLOG

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.