ESWD is being bought out by Inert Logistics, a vehicle in which ESWD managing director Mircea Bandean is the controlling stakeholder.
Inert Logistics is to pay £300,000 in cash, over instalments over the next three years.
11am: Panther Metals rises after highlighting 2021 prospects a year after IPO
The company joined London’s AIM market in January 2020 and has now released an update on New Year’s Eve and has noted that it has a “clear runway” for the coming year.
“2020 has created challenges no one could have imagined, especially for those doing business in the global marketplace, and it’s been a pleasure witnessing just how strong our board has been in the face of these circumstances,” chief executive Darren Hazelwood said in a statement.
10.10am: Land Securities, Glencore dip on senior staff reshuffle
The commercial property development and investment company appointed Liz Miles as company secretary starting on Friday.
She is replacing Tim Ashby who steps down from the role today.
He joined the firm in 2011 following the company’s IPO.
Kalidas Madhavpeddi was appointed to replace Fischer as chair of the miner’s audit committee.
9.10am: Countrywide rises after reaching takeover agreement
Shareholders in the property group will receive 395p per share, implying an enterprise value of £223mln, for a 172% premium of the closing price on November 6, the last business day before the offer period started.
“Following a thorough evaluation of options and extensive consultation with the company’s major shareholders, we have been encouraged by their recognition of the need to put in place a sustainable capital structure and a willingness to support the company, which is a great business that has been constrained by too much debt,” said Countrywide’s acting non-executive chairman David Watson.
The buyer is a company that is owned and controlled by funds managed or advised by Investcorp Technology Partners, an affiliate of Investcorp Bank.
The AIM-listed developer of geospatial productivity and collaboration software for telecoms and utility network operators will receive a consideration of £2.5mln.