On 16 December, the Board of Directors of 6pm Holdings plc issued its Statement of Opinion in respect of the voluntary takeover bid (“the bid”) by Idox plc for the entire issued share capital of the Company.
The Directors concluded that the completion of the bid will be beneficial to 6PM as it will accelerate the Company’s growth as a result of greater business opportunities, operational synergies and efficiencies. Furthermore, the Board understands that the bid should not presently result in any significant changes to the conditions of employment of 6PM’s employees and the location of 6PM’s places of business.
Meanwhile, the Directors did not express any opinion on the adequacy of the price offered in the Offer Document dated 14 December 2016 – i.e. GBP0.88 per share, payable in cash or a combination of cash and shares in Idox plc.