Tsokkos bids for Dome

A Tsokkos Pcl (TSH) has submitted a bid interest to acquire Dome Investments (DOME) is an all cash deal seeking minimum 50% plus 1 vote or maximum 100% of the company at 46 cent per share.

The deal, which is backed by the 23 major shareholders of DOME holding 58% of the capital of the company is valued at the minimum 50% plus one vote bid at CYP 5.75 mln and for the whole company at CYP 11.5 mln on the 46 per share offer price, according to Financial Mirror calculations.

The offer price is also close to the book value per share, last reported at 52 cent per share, but which may adjust for the six month results, but at a substantial premium to the last traded price on the CSE amounting to 25 cent per share.