Most recently writing on news media company National World (NWOR), I noted that a saga continues as possible offerer Media Concierge warns it on “false and misleading statements”. What then of now from the company an “Update regarding Final Possible Offer” announcement?
At 1:06pm yesterday ‘news media sector consolidator’ National World (NWOR) responded to a 7:00am possible offer at 21p per share ‘request for engagement from board’ announcement from its largest shareholder Media Concierge (Holdings) Limited – including stating that it is investigating “a potentially systemic pattern of historical invoicing irregularities in relation to the activities of entities affiliated with Media Concierge” and that “entities affiliated to Media Concierge are yet to provide access to the necessary documentation in accordance with National World's contractual and legal rights to enable the investigation” as well as that “entities affiliated with Media Concierge are currently inappropriately withholding revenues due to the company totaling £4.4 million”! Late in the afternoon Media Concierge responded.
Shares in ‘news media sector consolidator’ National World plc (NWOR) have traded below 18p since August-announced half-year results and most recently closed at 15p. However, there’s today “possible offer” news, so what of this and the shares currently around 18p in response?
