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Flowgroup

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bruncher
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Flowgroup

#137610

Postby bruncher » May 8th, 2018, 6:09 pm

This company was bought a week ago by Co-Op group. It is still trading as Flowgroup which puzzles me (up 3.85% of nothing today). Can anyone shed light on the post-sale process? Will the shares cease trading? Will they carry on trading?
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Moved from Other Investing to Share ideas (leaving a link) to encourage responses. - Chris

PinkDalek
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Re: Flowgroup

#137617

Postby PinkDalek » May 8th, 2018, 6:29 pm

bruncher wrote:This company was bought a week ago by Co-Op group. It is still trading as Flowgroup which puzzles me (up 3.85% of nothing today). Can anyone shed light on the post-sale process? Will the shares cease trading? Will they carry on trading?


Share ideas may have been a better place to ask but looking here http://www.londonstockexchange.com/exch ... 26485.html suggests that Flowgroup plc sold Flow Energy Limited.

I haven't read the other announcements though, which might indicate if they intend to keep their AIM listing and the future intent for what remains but they should be here:

http://www.londonstockexchange.com/exch ... 6GBGBXASX1

Edit: Their intentions are spelt out here http://www.flowgroup.uk.com/company-information/

Extract only - there's more there:

... Following Completion, unless an appropriate opportunity to undertake a reverse takeover as required under AIM rule 15 is pursued, the Company will consider options available to it to effect the distribution of the proceeds of the Sale to stakeholders. Under all likely scenarios following Completion, the cash distribution to Shareholders will be £nil. ...


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