15/08/2008
Specialist online travel group Travelzest says it is in ‘early stage’ discussions over a potential offer at 115p or less.
The Hertfordshire-based company, which lost £90,000 on £16.3 million revenues in the six months to April, has responded to market speculation by confirming the talks. According to Travelzest, the potential bidder reserves the right to announce a lower offer to the extent that Travelzest’s board is prepared to recommend it.
Floated three years ago at 126p, Travelzest’s shares hit 178.5p in early 2007, but retreated to 87p last February. They have now rallied to 104.5p, valuing the company at
£21.3 million.
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Robert Tyerman
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