Bombed-out Zenith Hygiene Group says it has received an approach that could lead to an offer of up to 12p a share.

Hertfordshire-based Zenith, which makes cleaning and hygiene products for corporate users, has been hit by cost overruns, problems with integrating acquisitions, customer rebates and accounting issues. The AIM-quoted company lost £8.6 million in the year to August 2007 and another £1.1 million in the six months to February, as it has striven to put things right.

Zenith, advised by Oriel Securities, says it is understood any offer from the unnamed potential suitor would be made at a price of ‘no more than 12p per ordinary share’. That compares with a £1 float price in 2005, a 190.5p peak the following year and last month’s nadir of 9p.

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Zenith Hygiene	AIM	£2.43m	11.75p	0.00p
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