COSALT chairman David Ross has offered to buy the entire share capital of the business for £400,000 in a move that would see the company delist from the stock market.

Through a new company called Oval, Mr Ross has offered a deal which puts an enterprise value on the marine safety firm of £14.4m.

Cosalt shareholders are in line to receive 0.1p per share under the terms of the deal which has been unanimously backed by its independent directors. Cosalt shares closed last night at 0.35p.

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