The offer values Regal at $122 million, or 30% above its market value last week, and “provides greater value and certainty to Regal shareholders than the company remaining an independent listed entity at this time”, Regal said.
“Against the background of operational, legal and funding challenges faced by the company, and following the results of our strategic review,” the company’s board “intends unanimously to recommend shareholders accept the proposed offer”, Regal chairman Keith Henry said.
However,
