It turns out old Richard, the "Welsh Wizard", Griffiths now has 9.55pc of Telit Communications and plans to vote for the 220p a share offer from Dbay Advisors this week.
Well, that's according to a statement released by Dbay at lunchtime today. Below is the link:..
This morning Dbay Advisers, the activist private equity firm trying to buy Telit Communications, said that Compass Asset Management is no longer supporting its 220p a share offer for the Aim-listed 'internet of things' company.
Dbay added that Compass - a little known fund manager based in Lugano, Switzerland - said it now plans to abstain in voting for the scheme of arrangement next week. Below is the link to the statement:..
It sounds like Dbay is a tad worried about a potential interloper coming in for Telit Communications, the Aim-listed 'internet of things' designer.
That's because word reaches Betaville that the activist investor and private equity firm may have struck an agreement with Telit to be able to sell the due dligence it carried out on the company to a rival acquirer should one emerge from the shadows...
Have you ever seen a UK-listed company's board recommend a cash takeover offer for a business but at the same time stress it fundamentally undervalues the business?
Well, that is what has just happened this morning at Telit Communications, the Aim-listed 'internet of things' designer that can't stop generating controversy...
Telit Communications faces a shareholder backlash over Dbay's latest attempt to take the company private.
People following the situation said large shareholders in the Aim-listed 'internet things of designer' are furious about how talks with Dbay have transpired.
Yesterday, it emerged that Telit's board has given Dbay Advisors the opportunity to carry out due diligence on the business without indicating what price it would be prepared to recommend an offer...
Dbay Advisors, the activist investor, has increased its shareholding in Aim-listed 'internet of things' designer Telit Communications to 25.79pc. Below is a link to yesterday's announcement:
Another day, another stakebuild in Telit Communications by the mysterious DBay Advisors.
Today DBay, which has already submitted a takeover approach for the whole company, said it now owns 15.37pc of the 'internet of things' provider. Below is the link to today's announcement:..