Optare (OPE)

0.27p
   
  • Change Today:
      0.020p
  • 52 Week High: 0.42
  • 52 Week Low: 0.21
  • Currency: UK Pounds
  • Shares Issued: 2,235.29m
  • Volume: 312,239
  • Market Cap: £5.92m
  • Beta: 0.71

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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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Optare Market Data

Currency UK Pounds
Share Price 0.27p
Change Today 0.020p
% Change 8.16 %
52 Week High 0.42
52 Week Low 0.21
Volume 312,239
Shares Issued 2,235.29m
Market Cap £5.92m
Beta 0.71

Optare Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
77.03% below the market average77.03% below the market average77.03% below the market average77.03% below the market average77.03% below the market average
81.48% below the sector average81.48% below the sector average81.48% below the sector average81.48% below the sector average81.48% below the sector average
Income Not Available
Growth
19.87% above the market average19.87% above the market average19.87% above the market average19.87% above the market average19.87% above the market average
18.37% above the sector average18.37% above the sector average18.37% above the sector average18.37% above the sector average18.37% above the sector average

Optare Dividends

No dividends found

Trades for 23-Apr-2014

Time Volume / Share Price
12:34 75,357 @ 0.25p
11:50 75,140 @ 0.25p
11:26 500 @ 0.25p
11:07 11,242 @ 0.25p
08:00 150,000 @ 0.24p

Optare Key Personnel

CFO Ramesh Narasimhan
CEO Enrico Vassallo

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