Safestyle UK denies rival takeover rumours as shares accelerate

Safestyle UK announced that it has become aware of certain rumours in the market and confirmed that it is not in discussions to acquire NIAMAC Developments Ltd (trading as SafeGlaze UK) (NIAMAC) nor to acquire its business or assets.  

Safestyle shares were trading 13% higher at 56.58 pence on the back of this news.

The Board of the Bradford-headquartered window retailer and manufacturer is however considering certain other arrangements with key stakeholders in NIAMAC that could benefit Safestyle’s business and accelerate its recovery.  

There can be no certainty that any formal arrangement will be entered into.  

The company said that a “further announcement will be made in due course, as appropriate.”

In September, Safestyle UK announced a settlement of its claims against NIAMAC. Safestyle had filed a legal claim against its competitor for alleged trade mark infringement, passing off, misuse of confidential information, malicious falsehood and various other matters.

As part of the settlement, SafeGlaze UK agreed to change trading name and re-brand fully within an agreed period of time.