27 September 2024 - disposal
When we recommended shares in the specialist engineering group at 29.5p last week in the September issue of the newsletter, we commented that the imminent disposal of the PMC division wouls probably lead to a bounce in the share price. Today, the company has announced that the sale has been agreed with an Indian company. The business has been sold for an initial enterprise value of £6.2m although this could rise to £7.7m depending on the future performance of PMC. As the enterprise value includes some inter-company debt, the net effect is . . .
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