Optare (OPE)

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 0.20p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.35
  • 52 Week Low: 0.18
  • Currency: UK Pounds
  • Shares Issued: 2,235.29m
  • Volume: 60,000
  • Market Cap: £4.36m
  • Beta: 0.87

Alexander Dennis opts out of Optare, shares crash

Date: Thursday 29 Dec 2011

LONDON (ShareCast) - Optare, the struggling Leeds-headquartered bus manufacturer, was stuck in reverse on Thursday on news that a possible takeover appears to be off.

Rival firm Alexander Dennis (ADL) had said it was interested in buying Optare but the sticking point has been the position of minority shareholder Ashok Leyland, an Indian bus producer.

ADL wanted to buy 100% of the issued stock but Ashok Leyland said it wouldn’t sell its 26% stake “at any price”.

This seems to have put the kybosh on the deal.

Ashok Leyland has a standing agreement to invest in Optare for a significant increase in its shareholding. The offer from ADL would have been seen as a direct threat to those plans.

ADL had also wanted greater access to Optare’s books, a request Optare would not agree to until it knew a firm offer for the available stock was likely.

Optare has fallen 82% during 2011 and 99% since March 2008. It employs around 800 people.

BS

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Optare Market Data

Currency UK Pounds
Share Price 0.20p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.35
52 Week Low 0.18
Volume 60,000
Shares Issued 2,235.29m
Market Cap £4.36m
Beta 0.87

Optare Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
72.27% below the market average72.27% below the market average72.27% below the market average72.27% below the market average72.27% below the market average
85.96% below the sector average85.96% below the sector average85.96% below the sector average85.96% below the sector average85.96% below the sector average
Income Not Available
Growth
28.01% below the market average28.01% below the market average28.01% below the market average28.01% below the market average28.01% below the market average
19.23% below the sector average19.23% below the sector average19.23% below the sector average19.23% below the sector average19.23% below the sector average

Optare Dividends

No dividends found

Trades for 18-Sep-2014

Time Volume / Share Price
13:08 60,000 @ 0.18p

Optare Key Personnel

CFO Ramesh Narasimhan
CEO Enrico Vassallo

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