Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Belluscura bid for TMT Acquisition goes unconditional

(Sharecast News) - Belluscura announced on Friday that the all-share offer for the acquisition of TMT Acquisition had gone unconditional. The AIM-traded firm said it now owns 24,974,109 TMT Acquisition shares, representing 90.81% of TMT's issued share capital.

It said the revised offer, as detailed in an offer document on 19 January, would remain open for acceptance until further notice, with 14 days' notice to be given before closure.

As part of the acquisition's completion, the appointments of Paul Tuson and Jonathan Satchell as non-executive directors to the board of Belluscura had become effective.

The cancellation of the admission of TMT Acquisition shares on London's main market was now underway, and was expected to take effect on 7 March.

Bellscura said the move was expected to significantly reduce the liquidity and marketability of TMT Acquisition shares for shareholders who had not accepted the offer.

Settlement for accepted shares would be completed by 23 February, or within 14 days of further acceptances.

At 1131 GMT, shares in Belluscura were up 8.11% at 20p.

Reporting by Josh White for

Share this article

Related Sharecast Articles

UPS tops Q1 profit forecasts but misses on revenue
(Sharecast News) - American transport and logistics giant United Parcel Service saw shares rise on Tuesday after quarterly profits beat analysts' forecasts, even though revenues fell more than expected.
Getir investors said to fund European exit with new cash injection
(Sharecast News) - Investors in grocery delivery app Getir, which at one point attained a valuation of almost £10bn, are reportedly set to inject yet more money into the company to fund its exit from the UK and Europe.
Bushveld updates Vametco mineral resources
(Sharecast News) - Bushveld Minerals updated the market on mineral resources and reserves for the Vametco vanadium mine near Brits on the Western Limb of the Bushveld Complex on Tuesday.
Power Metal Resources completes Molopo drillhole
(Sharecast News) - Power Metal Resources announced the completion of drillhole DDH1-14C at its Molopo Farms Complex project in southwestern Botswana on Tuesday.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.