Cosalt offer doubled by Ross
DAVID Ross, the co-founder of Carphone Warehouse, has doubled his offer for industrial and offshore safety products business Cosalt to £800,000.
Mr Ross, chairman of the Grimsby-headquartered business, increased his offer after acquiring a further 10% of Cosalt’s shares at 0.2p a share.
The acquisition has been made by Oval, the vehicle established by Mr Ross to make a recent £400,000, or 0.1p per share, offer for Cosalt.
The revised 0.2p per share offer for the whole company values it at £800,000.
The additional 40.95m shares bought by Mr Ross from a single shareholder, plus the 2.57% of shares from shareholders who have accepted his original offer, takes his shareholding in the business to 46.15%.
Cosalt’s shares closed at 0.175p last night.
