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Shareholders approve Interbulk acquisition plans
26th April 2007, Page 50
26th April 2007
Page 50
Page 50, 26th April 2007
— Shareholders approve Interbulk acquisition plans
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INTERBULK SHAREHOLDERS have approved the company's plans to acquire United Transport International (UTI) at an extraordinary general meeting.
The liquid and dry goods bulk haulier outlined its 'reverse takeover' of UTI for £79.5m last month (CM 22 March).
Shareholders also gave the go-ahead for the placing of £28m of shares at 20p per share to finance the takeover.
Chairman Bill Thomson says the acquisition of UTI is a significant step in realising the company's vision of creating one integrated group using four forms of intermodal container.