25 May 2012

Daisy bids £10.45m for BNS

18/02/2010 Robert Tyerman

Daisy chairman Peter Dubens

Daisy chairman Peter Dubens

Acquisitive telecoms supplier Daisy Group is offering an agreed 20p a share for de-listed BNS Telecom Group.

AIM-quoted Daisy, formerly FREEDOM4 Group, says it has secured acceptances from BNS chairman Barry Moat, his fellow directors and their families representing 55.7 per cent of the capital of BNS, a voice-over-internet telecoms carrier and re-seller of fixed and mobile lines and other value-added services. The offer price is more than three times the bombed-out 6.25p at which BNS, which lost £428,000 in the first half of 2009, de-listed its shares last year – but is less than half the 54p at which the company floated on AIM in late 2005.

Daisy, which lost £3.5 million in the first nine months of last year, is out to establish itself as a major telecoms supplier to small and medium-sized UK companies, according to chairman Peter Dubens. The shares have been a strong market this year, rising from a 33p low to a peak of 106.75p and now trade at 97p, up 2p this morning, valuing the company at £255 million.

Tags: AIM, Growth Stocks, Mergers & acquisitions

Sector: Fixed Line Telecommunications

Companies: Daisy Group

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