Patsystems has applied to the London Stock Exchange for the admission of its ordinary shares to AIM to be cancelled on 28 February.
The final move follows the announcement by Ion Group’s Pattington that its recommended cash offer for Patsystems had been declared wholly unconditional in all respects on 26 January.
David Webber, head of Patsystems, confirmed to FOWi the finalisation of the sale for approximately £29m.The offer was unanimously recommended to its shareholders by the board of Patsystems. Under the deal, Pattington will acquire the entire issued and to be issued share capital of Patsystems which it does not already own.The offer values the entire issued ordinary share capital of Patsystems at approximately £28.6m.The board of Pattington has confirmed that the offer has become unconditional as to acceptances.All of the other conditions to the offer have now been satisfied or waived and, accordingly, the offer is unconditional in...