Travelzest in play, Carroll, Cobbold ‘express interest’
Travelzest plc reports that its board of directors has received “a preliminary expression of interest” from Jonathan Carroll, chief executive officer of the company, and Adrian Cobbold, chief financial officer, to acquire the company and as a result the independent directors (being Nigel Jenkins, Mark Molyneux and Richard Hall) have decided they will conduct a formal sale process in order to explore this and any further potential expressions of interest. In a statement, Travelzest said that “while the independent directors believe that the company has a future as an independent business, it recognizes that there may be other individuals and businesses which are better placed to build on the company’s strong Canadian trading businesses.” As a result, the independent directors have therefore commenced a formal sale process in order to seek to unlock and crystallize shareholder value, through which the company might also be able to offer more opportunities for its employees and other stakeholders. The statement also said that potential offerors for the entire issued and to be issued share capital of the company are invited to contact HW Corporate Finance who have been engaged to manage the formal sale process on behalf of the company. Go to http://www.travelzestplc.com for more.