Tandem plans to finance the deal with a placing of 49m ordinary shares to raise
£2.25m after expenses, with the surplus raised being used to invest in
the Ben Sayers business.
Ben Sayers is claimed to be the oldest independent golf club manufacturer in the world with over 120 years of trading.
This is Tandem’s fourth purchase in the last sixteen months. In Tandem’s interim statement issued on 31 October 2001 more acquisitions were promised.
Tandem’s preliminary results for the year ending 31 January 2002 will be issued
in April 2002 and are expected to show an operating profit significantly
increased from the previous year, said chairman Graham Waldron.