Cosalt chair talks up his offer

Cosalt chairman David Ross has written to investors urging them to accept his offer to buy their shares in the embattled firm. Ross, who wants to de-list the company, has made a £400,000 offer for the marine safety equipment provider Cosalt. Carphone Warehouse founder Ross said in the letter, published yesterday: “Without a sufficient inflow of finance into the business, the company’s whole future is at stake and its options are extremely limited.” Shareholders have until 20 December to accept his controversial offer of 0.1p per share.