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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Synopsys Inc | TG:SYP | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
6.40 | 1.29% | 503.40 | 502.90 | 505.40 | 511.30 | 498.50 | 498.50 | 505 | 22:50:18 |
RNS Number:0278J Seymour Pierce Group PLC 21 March 2003 Date: 21 March 2003 Contact: Jeremy Garrett-Cox ING Barings 020 7767 1000 David Bick/Chris Steele 07979 604 687 Holborn 020 7929 5599 Seymour Pierce Group Plc ("the Group") Proposed disposal At the AGM on 3rd February, the Group indicated that it was continuing to explore carefully a bid approach ("the bid approach") for the Group, which was first received in November last year. Although the bid approach concerned the whole Group, its primary target was the Group's investment banking division. This approach has now resulted in an offer to acquire the investment banking division on a stand-alone basis. Consequently, discussions with regard to the bid approach for the whole Group have now ended. During the course of the past several months, the board has also received a number of approaches for the investment banking division as a stand-alone entity. A committee of independent directors of the board have now agreed in principle to accept an offer for the investment banking division, which involves the participation of certain board directors and the division's management. This offer represents the highest cash value to the Group. The investment banking division includes corporate finance, corporate broking, institutional sales, research and trading, and private client stockbroking. The board is also in advanced discussions with regard to the sale of the asset management division which has approximately #3 billion of funds under management. Subject to the successful completion of these transactions and necessary approvals, it is the board's intention to return substantially all of the Group's cash to shareholders. Further announcements will be made as appropriate. - ends - This information is provided by RNS The company news service from the London Stock Exchange END MSCGGGZFRGFGFZM
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