25 May 2012

OpSec receives bid approach

26/04/2011 Miles Nolan

Shares in anti-counterfeiting specialist OpSec (OSG) have surged 22 per cent this afternoon after admitting it has received a bid approach.

The AIM counter has undertaken a number of cost saving and efficiency measures in recent months. Indeed, a recent trading update confirmed that second half trading had been strong and that full year results were on track to meet market expectations. Moreover, good cash flow has enabled it to repay some of its borrowings.

In the six months to 30 September sales increased 21 per cent to £19.7 million as operating profits more than doubled to £1.38 million (2009: £645,000). Improved trading conditions coupled with new financing arrangements have helped OpSec, however the potential suitor remains a mystery.

After the rally today the company is valued at £15.7 million, it counts Herald Investment as its largest shareholder with a 12 per cent stake. The talks 'may or may not' lead to an offer so for now its best to sit tight.

Tags: AIM market, Anti-counterfeiting, Bid approach, Herald Investment Management

Sector: Support Services

Companies: OpSec Security

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