StockMarketWire.com - Orchid, the specialist investor in the Bulgarian real estate and leisure market, last month received a preliminary approach from a third party which may or may not lead to an offer for the company.
The approach, which remains at a very preliminary stage, has been made on the basis of publicly available information and remains subject to due diligence and, accordingly, there can be no guarantee that a transaction will ensue.
Orchid is continuing to seek to clarify the terms of the approach but would like to emphasise that the indicative price currently proposed by the third party is below the closing middle market price per share as of yesterday.
At 10:12am: (LON:OCH) share price was -2.62p at 7.13p
Story provided by StockMarketWire.com
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