Belluscura announces increased offer
By HME News Staff
Updated 9:57 AM CST, Mon January 22, 2024
LONDON and PLANO, Texas – The boards of Belluscura and TMT Acquisition have announced the terms of a recommended share offer to be made by Belluscura for the whole of the issued and to be issued share capital of TMT Acquisition. Having regard to the Belluscura share price in recent weeks, the companies have agreed on an increase in the number of new Belluscura shares to be offered in exchange for TMT acquisition shares. The value of a TMT acquisition share under the offer, based on the closing price per Belluscura share of 30.5 pence on Oct. 2, 2023 (the latest practicable date prior to the commencement of the offer period), is 30.5 pence, representing a premium of approximately 79% to the closing price of 17.0 pence per TMT acquisition share on Oct. 2 2023 (being the latest practicable date prior to the commencement of the offer period). Belluscura announced in October that it had reached an agreement with TMT Acquisitions, a London-based acquisition vehicle in the technology, media and telecommunications sector, on the key terms of a possible share-for-share offer for the company, in a deal that would be valued at EUR 6 million.
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