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Theo Fennell to Cease AIM Trading in October

Aug 25, 2013 6:36 AM   By Deena Taylor
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RAPAPORT... Theo Fennell will cease trading on London's Alternative Investment Market (AIM) exchange on October 4, 2013 as it turns private, the company reported.

The move follows the acquisition of the jewelry retailer by Mirfield 1964, an investment group led by Jon Moulton, for a cash offer of $4.5 million (GBP 2.9 million) with a share alternative. On completion of the agreement, Moulton, Sir Keith Mills and Mike Jatania will each hold a 21.8 percent share of the retailer, while Jurek Piasecki will hold a 12.3 percent share, EME Capital will hold a 7.3 percent stake and company founder Theo Fennell a 5 percent interest.

The acquisition will be made through a court-sanctioned scheme and will need to be approved by shareholders as well as subject to a number of other conditions set out in the acquisition agreement. The court meeting and shareholder meeting are scheduled to take place on September 16.

Theo Fennell reported a loss of $1.4 million (GBP 878,616) for the first half that ended on March 30, compared with a loss of $2.6 million (GBP 1.7 million) one year earlier. Revenue declined 18 percent year on year to $8.9 million (GBP 5.77 million). 
Tags: aim, Deena Taylor, Mirfield 1964, Theo Fennell
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