The Board of Directors of Invista Real Estate Investment Management Holdings and the Board of Directors of Palmer Capital Investors (India) Limited have reached agreement on the terms of an offer whereby Palmer Capital will acquire the entire issued and to be issued share capital of Invista.
It is intended that the Offer be implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act. The offer values the entire issued and to be issued share capital of Invista at GB39.7m and each Ordinary Share at 14.75 pence.
The consideration of 14.75 pence for each Ordinary Share represents a premium of approximately 19.2 per cent over the Closing Price of 12.4 pence per Ordinary Share on 15 June 2012, being the last trading day before the date of this announcement.
Alex Price, CEO of Palmer Capital, says: “This will be a major acquisition that will help us grow out team and brings us further assets under management in the UK, Europe and Asia, We are really excited by the prospects created by a combined business.”