Clarity says it may receive new bid soon

Stephen Dinneen
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ITY Commerce yesterday said it is in talks with a number of suitors and expects to receive a better offer than the one tabled by Jon Moulton’s Enigmatic Investments.

The Clarity board reiterated its recommendation to shareholders to reject the Enigmatic bid, which it says undervalues the company and its prospects.

It said: “The board is in discussions with a number of potential interested parties and is working with these parties towards an offer which would deliver a significantly better overall return to shareholders than the offer by Enigmatic, and which the Clarity board expects it would be able to recommend.”

Enigmatic, controlled by Moulton’s buyout company Better Capital, last week defended its £9.7m bid and highlighted the £1.6m loss from continuing operations Clarity posted last year.