GPH accepts takeover proposal, moving into private ownership

The intention to delist is a major step towards the company being privately owned, after GPH revealed last month that it was considering a takeover proposal from its controlling shareholder, Global Investments Holding (GIH).

A cash offer for each GPH share is valued at $4.02. 

With GPH required to give at least 20 business days' notice, delisting will become effective from 8 a.m. BST on August 9. 

Delisting announcement

GIH established the GPH Group in 2004 and has a shareholding of almost 59% in the company. Since then, GPH has expanded across the Mediterranean, Atlantic, Caribbean and Asia Pacific. 

After listing on the London Stock Exchange in 2017, the company’s directors in recent years took delisting into consideration on a number of occasions. Disclosure requirements resulting in business development initiatives being made public at an early stage, as well as continuing low trading liquidity in the shares which hinder the ability to raise equity financing or other forms of flexible long-term funding, are among the factors leading to the decision. 

Private ownership is expected to enable GPH to execute its strategy of expanding and developing its portfolio more effectively.