Netstore to make bid for ICM?
The announcement came after a sharp spike in ICM’s share price, earlier in the week. Netstore’s statement reads as follows (verbatim): “Following the recent movement in ICM's share price, Netstore Plc ('Netstore') confirms that it expects shortly to approach ICM regarding a possible offer for ICM. There can be no certainty that any offer will be forthcoming. A further announcement will be made as appropriate.” ICM responded with a statement of its own: “The Board of ICM notes the announcement by Netstore that it expects shortly to approach ICM regarding a possible offer for ICM. The Board of ICM has neither sought nor received any such offer or proposal from Netstore. Shareholders are advised to take no action at this stage.” Should Netstore make a successful bid it would see a return to the business continuity and disaster recovery market for Paul Barry-Walsh, Netstore chairman. Mr. Barry-Walsh led the growth of the Safetynet disaster recovery company which was sold to Guardian iT in 2000. Interestingly, the Netstore announcement was made just five days after the company announced that its chief executive officer, Neil Lloyd, had left the company ‘by mutual agreement with immediate effect’. Paul Barry-Walsh, became the temporary CEO, as well as chairman, and will remain in the post until a replacement has been appointed.
•Date: 18th October 2006• Region: UK •Type: Article •Topic: BC markets |
