Sweet maker Lees Foods has set a new date for the final court hearing that will complete the £5.6 million management buy-out of the firm.
The group’s directors have received approval from shareholders to take the Coatbridge-based business private with an offer of 230p a share.
Shares had been due to cease trading last week but the hearing was postponed. Yesterday, the firm published a new timetable for its de-listing. The court hearing is scheduled for 26 June when the shares will cease trading on the Alternative Investment Market. The company’s listing will be removed two days later. Shareholders will be paid by 10 July at the latest.
The buy-out was opposed by some investors on the grounds that it undervalued the firm, but received the backing of workers as managers promised to preserve jobs.
St Andrews scheme will create 80 jobs
A £7 MILLION scheme was unveiled yesterday for a Marks & Spencer and Premier Inn on the site of an abattoir in St Andrews, creating 80 full and part-time jobs.
Property developer Ashleigh Scotland said there would be consultation with residents over plans for the development on Largo Road.
The hotel will have 65 bedrooms, while the M&S store just under 1,000 square metres of floorspace.
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Monday 20 May 2013
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