Accuma suspends shares on eve of delist

SHARES have been temporarily suspended in Accuma, the AIM-listed debt management group that is being taken private.

Shareholders agreed last month to back a £5m take-private deal by chief executive Charles Howson and private equity firm Zeus Group.

Under the terms of the deal the company was due to leave the market on Monday, January 25. But a brief statement, issued by AIM, said the company had requested the suspension pending an announcement.

Using a vehicle called HH Bidco Mr Howson and Zeus made a cash offer of 15.5p per share, an 88% premium to the December 1 closing price.

Mr Howson owned around 25% of Accuma, which employs 40 people, while Zeus held around 3% of the shares. The company, which first announced bid talks were underway back in August, joined the AIM market in March 2005 and carried out a share placing at 82p.