FireAngel Safety Technology Acquired for £27.7 Million in Cash

Hey folks! Big news in the house-safety world! FireAngel Safety Technology has just been acquired by Siterwell Electronics Co. for a whopping £27.7 million in cold hard cash. Can you believe it?

So, here’s the deal. Shareholders of FireAngel will be getting 7.4 pence in cash for each share they own. And get this, that’s a massive premium compared to the closing share price of 2.1 pence on Thursday. Talk about a sweet deal!

Now, here’s the interesting part. Siterwell Electronics already owns about 17.46% of FireAngel’s shares through their subsidiary, Intelligent Safety Electronics. They’re no strangers to the game!

The Chairman of FireAngel, Andrew Blazye, knows the challenges the company is facing. He believes that this offer from Intelligent Safety Electronics is a golden opportunity for shareholders to cash in big time. And who doesn’t love some extra cash, right?

The management team is totally on board with this deal. They’re so excited that they’ve pledged their own 4.55% shareholding to vote in favor of the offer. That’s what I call team spirit!

Now, let me spill the tea on how this all went down. FireAngel had been exploring different options to make their shareholders happy. They had some chats with a few potential buyers, and guess what? Siterwell Electronics came out on top with their irresistible offer.

So, there you have it, folks! FireAngel Safety Technology is now in the hands of Siterwell Electronics Co. It’s a win-win situation for everyone involved. And who knows what exciting things are in store for FireAngel in the future?

That’s all for now, folks! Stay tuned for more juicy news!