Rurelec confirms early stage discussions over possible offer
(ShareCast News) - AIM-listed Rurelec confirmed on Wednesday that it is in discussions with a consortium led by former chief executive Peter Earl regarding a possible offer for the company.
The discussions - which Rurelec said may or may not be funded by IEH Limited, a company connected to its joint venture partner in Patagonia Energy - are still at an early stage and there can be no certainty that any offer will be made, nor as to the terms of any such offer.
An offer period has now commenced and Rurelec said it will make a further announcement as and when appropriate.
At 1440 BST, the shares were up 162% to 2.36p.