Examples of INM Board in a sentence
In providing its advice to the INM Board, Lazard has taken into account the commercial assessments of the INM Directors.
Having taken into account the relevant factors and applicable risks, the INM Board, which has been so advised by Lazard as financial adviser to INM, considers the terms of the Acquisition as set out in this Announcement to be fair and reasonable.
The INM Board believes the Acquisition fairly reflects INM’s current performance and prospects on a standalone basis.
Having considered all of these factors, the INM Board believes that the Acquisition represents the best option for INM, its employees, its readership and its customers, and is in the best interests of INM Shareholders.
The INM Board has also considered the potential risks as regards execution of the current strategy.
The INM Board has assessed the Acquisition with this context in mind and considered INM’s standalone prospects versus being part of a larger group with extensive experience in transforming publishing businesses into digital platforms.
In addition, since the commencement of an offer period on 4 April 2019, the INM Board has received further third party interest in acquiring INM.
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While the INM Board has full confidence in the delivery of this strategy and in the long-term prospects of the standalone company, it believes that the expertise Mediahuis will bring to INM will be invaluable as it undertakes its digitalisation programme.
The INM Board notes that the Acquisition represents a significant premium of 44% to the undisturbed share price of7.28 cent on 3 April 2019 (being the last Business Day prior to the Rule 2.4 Announcement by INM on 4 April 2019) as well as a 70% premium to INM’s volume weighted average share price of approximately 6.17 cent over the 90 trading day period ending on 3 April 2019, and that the all-cash consideration gives INM Shareholders an opportunity to realise value at this premium today.