StockMarketWire.com - Judges Scientific said Wednesday that it had increased its stake in subsidiary PE Fiberoptics to 67.5% from 51%.
Judges Scientific, a group involved in the buy and build of scientific instrument businesses, financed the management buy-out of a business manufacturing instruments to test fibre optics in 2015.
The buy-out vehicle, PE Fiberoptics, or PFO, was owned by Judges (51%), the seller (14%) and management of PFO (35%).
'PFO has now purchased half of the shares owned by all shareholders other than Judges, satisfied by a portion of its surplus cash balances,' Judges scientific said.
'Following the repurchase PFO retains substantial cash resources and Judges Scientific's board expects the transaction to be immediately earnings enhancing for the group.'
At 9:01am: [LON:JDG] Judges Scientific PLC share price was +30p at 2720p
Story provided by StockMarketWire.com
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