Accumuli plc (AIM:ACM) – approach by NCC not as much as some were expecting?
The independent specialist in IT Security and Risk Management, issued a positive update but, more significantly news of an approach from NCC Group which hasn’t exactly set the share price alight.
Revenues for the year ending March 2015 are expected to be in the region of £27m (FY14: £16.6m) due to strong second half performance in Technology Solutions with Group EBITDA in line with management expectations. However, for shareholder that’s all been ignored with the more significant news of an approach by NCC Group to acquire ACM by means of a scheme of arrangement. Under the terms ACM shareholders will be entitled to receive 0.1218 New NCC Group Shares and 5.97 pence in cash for each Scheme Share. Based on this measure each ACM share is currently worth 30.5736p (NCC price…