Lamprell Board Issues Update On Possible Offer

The Board of Lamprell (LAM.L) has received a combined non-binding indicative all cash offer to acquire the entire issued and to be issued share capital of Lamprell from Blofeld Investment Management and Al Gihaz Holding Company. The bidders are working to put forward the possible offer for the entire issued and to-be-issued share capital of Lamprell at a price of 9 pence per ordinary share which also includes a proposed secured bridging loan with a peak aggregate amount of $145 million.

The Board of Lamprell has concluded that should a firm offer be made on the same financial terms as the possible offer it would be minded to recommend it to shareholders.

The Joint Bidders have a combined shareholding of 44.24 percent in Lamprell.

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