Photo-Me share purchase triggers takeover rule

GaryPageau

Photo-Me International PLC said Serge Crasnianski, its CEO, has published a document with full terms and conditions for a mandatory takeover offer by the CEO’s company Tibergest Pte Ltd., according to Alliance News. The offer for the Surrey-based operator of instant-service equipment has become open for acceptances until March 8.

In mid-January, Tibergest agreed to buy 29.1 million Photo-Me shares from the Dan David Foundation, taking its total holding to 138.0 million shares, or a 37% stake, triggering a mandatory offer under UK takeover rules. So far, the takeover offer has registered little interest, with just acceptances from just 0.01% of shares, according to London South East.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.