30/01/2008
Depressed West End estate agent Humberts says it has received a ‘preliminary approach’, which may or may not lead to a bid.
Nine days ago, the AIM-quoted company dismayed the market with news that it was in talks about raising new finance after concluding that its residential business was running ‘materially below board expectations’. At that point chairman Tim James and chief executive officer Max Ziff resigned and John Maclean became executive chairman.
Floated at 60p five years ago, Humberts shares reached 112.5p in 2006, but collapsed all the way to 7.12p earlier this month. Bid talk has rallied them to 16.5p, valuing the company at £10.3 million.
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