STM Group agrees to revised sale offer of 67p per share

STM Group has reached agreement in principle with its potential buyer, Pension SuperFund Capital, on revised key terms of a cash offer for the entire issued and to be issued share capital of the company at a price of 67p per share, 3p less than the most recent offer of 70p per share. The new agreement would be conditional upon the completion of a disposal of certain parts of the group that are non-core to the strategy of Pension SuperFund Capital, STM said in a statement on 5 September.  As a result, STM director and shareholder Alan Kentish has signed heads of terms with STM Group an...