Performance

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

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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