Company News NEW BID FOR RINK INV.
£lOO,OOO Hay’s Offer
Hay’s, Ltd., has raised its offer for Rink Investments,
Ltd., and the amended offer has been unanimously recommended for acceptance by the Rink Investments directors.
The cash bid has been raised from 70s to 80s and the alternative offer has been raised from one Hay’s share plus 45s cash to two Hay’s shares plus 25s cash for each Rink Investments share.
The paid capital of Rink Investments is £28,465, in £1 shares. The value of the cash offer has been raised from £99,628 to £103,186, and the value of the share exchange offer from £113,860 to £116,707 (the market price of Hay’s shares having risen from 27s 6d to 28s since the first offer was made).
Announcing the amended offer yesterday, the deputymanaging director of Hay’s (Mr H. G. Hay) said it was not the intention of Hay’s to retain the ownership of the shares in Lamb and Hayward, Ltd., at present held by Rink Investments if the offer ’was successful. It was proposed to offer these shares to the existing shareholders of Lamb and Hayward, Ltd.
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Bibliographic details
Press, Volume CII, Issue 30057, 15 February 1963, Page 13
Word Count
187Company News NEW BID FOR RINK INV. Press, Volume CII, Issue 30057, 15 February 1963, Page 13
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