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Share Name | Share Symbol | Market | Type |
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Document Security Systems Common Stock | AMEX:DMC | AMEX | Ordinary Share |
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LONDON--DMCI Mining, a subsidiary of Phillipines-based industrial group DMCI Holdings Inc. (DMC.PH), Friday increased its stake in Toledo Mining Corporation PLC (TMC.LN) from 17.0% to 37.7% and said it will make a mandatory cash offer to acquire all the Toledo stock it doesn't already own.
MAIN FACTS:
-Raised its stake by buying the 20.7% stake owned by Jason Cropper at 50 pence per share
-Offer will comprise 50 pence in cash for each Toledo share valuing the whole of Toledo's existing issued share capital at GBP24.9 million
-Represents a premium of 66% to 30 pence, the volume weighted average price for prior three months, and 61% to 31 pence, the closing mid-market price on Feb. 14
-Toledo shares closed Friday at 30 pence valuing the company at GBP15 million.
-Write to Ed Ballard at ed.ballard@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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