Tandem's bid for Bob the Builder is given the OK

Tandem Group PLC 3rd February offer to acquire MV Sports Group PLC has been passed at an Extraordinary General Meeting.
Publish date:

Resolutions to effect a capital reorganisation involving a reduction of share capital and consolidation, sub-division and conversion of the company's ordinary shares were also passed.

Accordingly, the company's ordinary shares of 4p each have been consolidated on a 1 for 10 basis, and the resulting 40p shares have been subdivided and converted into 1 new ordinary share of 4p each and 1 non-voting cancellable "B" ordinary share of 36p each (which will not be listed on any exchange). The effect of the reorganisation is that shareholders will receive 1 new ordinary share of 4p each for every 10 ordinary shares of 4p each held.

Tandem Consideration Shares in respect of the pffer will be admitted to trading on the Alternative Investment Market on 9th April.

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