RAB unveils delisting, buyout plan as assets dive to $200m

Fri Jun 24, 2011

Read more:




The stunning unravelling of RAB Capital as a public company is in its final phase, with the directors this week coming forward with a proposed "reorganisation" that would involve delisting the firm from the stockmarket and taking it private via a management buyout led by its executive directors.

Under the terms of the proposals outlined today, shareholders in RAB are expected to have the option either to sell their shares for just 10p each in cash - compared with an IPO price of 25p in March 2004 and a peak of 120p in mid-2007 - or to receive new shares instead in the new privately held company, which is known only as NewCo at this stage.

Directors Michael Alen-Buckley and Philip Richards, the co-founders of RAB, along with CEO Charles Kirwan-Taylor and finance director Christopher de Mattos are aiming to lead the proposed buyout - which marks the final fall from...

ISSN: 2151-1845 / CDC10004H

TAKE A FREE TRIAL

The full contents of this article are only available to active EuroHedge subscribers and trialists.

To continue reading please,
take a free trialsubscribe or log in to EuroHedge.

Subscribe

Subscribers have unlimited access to all current content, including hedge fund performance Live League Tables. Start your subscription today - click on the button below.

Subscribe now