Thruvision seeks shareholder approval for Investec tender offer

Eligible Thruvision shareholders will be given the option to offload up to 47m ordinary shares in the firm, representing 28.46% of the company's issued ordinary shares, at a fixed price of 17p each.

Investec's tender offer, expected to close at 1300 BST on 8 August, requires the approval of shareholders and has been added to the agenda of the firm's annual general meeting on 24 July.

Back in Mach, Thruvision revealed that it was carrying out a cancellation of its share premium account and capital redemption reserve for the purposes of creating sufficient distributable reserves to carry out a return of capital to investors.

Investec will purchase voting shares in Thruvision, which could result in the outsider acquiring an interest of 30% or more in the company's voting rights.

As of 1330 BST, Thruvision shares had shot up 8.65% to 15.70p.