Reject UKRD offer, says Perriss
Posted by
Reject UKRD offer, says Perriss

John Perriss, a TLRC director has written openly to shareholders of the company advising they reject an offer from UKRD, and accept the counter offer from Hallwood instead. Hallwood is owned by TLRC chairman Anthony Gumbiner.

John Perriss, an Independent Non-Executive Director of The Local Radio Company plc says the UKRD Offer should be rejected by Shareholders because the cash price offered in the Hallwood Offer is 25 per cent higher than the UKRD Offer and therefore Shareholders who do not wish to continue their involvement with the Company can sell their Shares at a higher price.

Hallwood has offered a £1m loan facility to provide the Company with working capital, should the deal go ahead.

The Hallwood Offer was made on [link=]Thursday[/link] on the basis of 2.5 pence in cash per Share, valuing the entire issued share capital of the Company at approximately £1.8m. Hallwood already owns a 28.26 percent stake in The Local Radio Company.

Hear more radio industry news like this at the top of the hour on inRadio - the radio industry's very own radio station. Listen now in a new window whilst you continue reading RadioToday or press play below.

0 0 365 14 April, 2009 Industry News 7:28 am 20094 Tuesday, April 14th, 2009

Leave a Reply

Looking for something else?


Subscribe to our emails to stay informed about the latest radio news and products delivered straight to your inbox.

Related Posts

No related posts were found
WorldDAB General Assembly 2016 - November 9, 2016 at 10:00 am ()
Student Radio Awards - November 10, 2016 at 6:00 pm (The O₂ 10 Entertainment Avenue, London, SE10 0DY, England)
BBC Gillard Awards - November 10, 2016 at 7:00 pm (Newcastle)
Audio Production Awards - November 23, 2016 at 6:00 pm (BFI Southbank, Belvedere Road, London)
Radio TechCon 2016 - November 28, 2016 at 10:00 am (The Arts Theatre, 6-7 Great Newport St, London WC2H 7JB)
Salon de la Radio - January 29, 2017 at 10:00 am (Paris)
Salon de la Radio - January 30, 2017 at 10:00 am (Paris)
Salon de la Radio - January 31, 2017 at 10:00 am (Paris)
More events