Hallwood has revised their cash offer for the remaining shares in The Local Radio Company. Working on the basis of 3.5 pence per share, they estimate TLR’s worth at roughly £2,520,056.
It follows news that UKRD has recently revised its offer for TLRC. Hallwood currently owns approximately 28.26 per cent of the existing issued share capital of the company.
The Revised Offer is conditional upon Hallwood receiving minimum acceptances from not less than 90 per cent in nominal value of the TLR Shares.