family makes pounds 50m as pcb buys forward

by:Rocket PCB     2019-11-28
Printed circuit board manufacturers Forward Group yesterday agreed to American PCB investment the company 1 pounds 129 dollars of acquisition offer the trading will for Raymond in Chamberlain bring more than 50 GBP of income the president and other family members. The 230p-per-
Only three months after the company issued a profit warning, Forward\'s shares plunged from 263 p to 110 p.
Mr. Chamberlain has six.
6 million shares, worth £ 15 under the terms of the tender, and his family also owns 15 shares. 3 million.
Together with the acceptance of other controllers, the PCB is actually home and dry, more than 40.
3% of the forward equity.
PCB, a company established by the US private investment fund-
Hicks, meditation, Tate and Furst equity fund type III
According to Vice President Daniel dross, the company has said it intends to use the acquisition as a springboard to enter the European electronics market, where it sees a \"fantastic opportunity\" for growth \".
PCB owns Viasystems, the company is ready to lead the competitionMove forward.
The quotation is a multiple of 23.
According to Forward\'s estimate of pre-, 5 times
A tax profit of £ 8 and an income of £ 9.
8p per share for the fiscal year ended January.
Forward shares rose 61 p to 225 p.
The forward\'s chief financial officer, Martin granfeld, said he thought the offer was \"fair\" given the current uncertainty in the electronics industry and the semiconductor market \".
\"The market has improved over the past two months, but it is too early to say whether this will last.
\"Also, Viasystems will be a big player in Europe and we have to ask ourselves if we want to compete with them or join forces,\" he said . \".
The two sides started serious talks three weeks ago.
Mr. Glanfield said that the board received a better price from the PCB than it originally submitted.
\"We did not start negotiations at 230 p. . .
We managed to squeeze more out of them.
\"Mr. Dross said that the combination with Viasystems will create a global force in the manufacture of printed circuit boards.
\"The merger will enable us to increase the purchasing power with our suppliers, while there are also unique technologies available that are relevant to both companies.
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