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Last Trade - 18/09/20

Consumer Cyclicals
Small Cap
Market Cap £76.9m
Enterprise Value £88.3m
Revenue £59.8m
Position in Universe 191st / 751

BRIEF-Tebesa announces tender offer for 100 pct of Novita

Wed 8th June, 2016 8:59am
June 8 (Reuters) - Novita SA  NVT.WA  
    * Tebesa Sp. z o.o., a unit of Israeli-based Vaporjet Ltd, 
announced tender offer for 2.5 million shares of Novita 
representing 100 pct stake in the company, said plenipotentiary 
of Tebesa in a statement on Tuesday  
    * The tender offer price is 53.5 zlotys ($14.00) per share 
    * Following the acquisition, Tebesa plans to re-materialise 
Novita's shares and withdraw them from trade on the Warsaw Stock 
    * Tebesa will acquire Novita's shares if no less than 
2,375,000 shares representing 95 pct stake is subscribed for  
    * The subscription period runs from June 27 to July 27  
    * Currently, the majority shareholder of the company is 
Lentex SA  LTX.WA , which holds 63.17 pct stake in Novita  
    * Lentex's price for sale of Novita's shares is lower than 
tender offer price and amounts to 52.4 zlotys per share, as per 
agreement with caller 
    * Vaporjet was in talks to launch tender on Novita' shares 
since April  urn:newsml:reuters.com:*:nL5N17T0XA 
    * Lentex, under the letter of intent, obliged not to sell 
its stake in Novita, before the date of singing of final 
agreement on June 7  urn:newsml:reuters.com:*:nFWN18Y0NJ 
 Source text - http://bit.ly/1U6Yest 
 Further company coverage:  NVT.WA   
($1 = 3.8225 zlotys) 
 (Gdynia Newsroom) 
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))
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