Healthcare firm Circle Holdings to delist from London Stock Exchange after Toscafund takeover

William Turvill
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The Square Mile - London's Financial District
Circle Holdings will delist from the Alternative Investment Market (Aim) on 1 June (Source: Getty)

Healthcare company Circle Holdings is to delist from the London Stock Exchange next month when it is taken over by Toscafund.

The London-based hedge fund announced a takeover deal for Circle at the end of March.

Read more: Speedy Hire hammers expectations – "in spite" of Toscafund activism

Toscafund already owned a 26.75 per cent stake in Circle and offered 30p for each additional share, valuing the company to £75.2m.

Circle today announced that, after the deal had become “unconditional in all respects”, it would be delisting from the Alternative Investment Market (Aim) on 1 June.

Toscafund said it had received acceptance from shareholders representing 93.34 per cent of voting rights and that others may still accept the offer.

Read more: London-listed healthcare firm feeling fit as shares soar over 17 per cent

When the offer was first accepted by the board, Circle’s non-executive chairman Michael Kirkwood said:

Under the single ownership of a well-resourced bidder, and without the costs and distractions of a public listing, the management team will have greater flexibility to accelerate the growth opportunities that exist and, importantly, maintain the company’s primary goal of outstanding patient care and outcomes.

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