Significant shareholders to exit £45m-turnover manufacturer

Significant shareholders are set to exit listed manufacturer 600 Group.

Investment group Haddeo Partners, of which 600 Group executive chairman Paul Dupree is also managing partner, tabled a deal to sell its stake in the business.

This consists of more than 23m shares, equating to 22.5% of the issued share capital of the company. The deal would be worth around £2m.

It is divesting its interests to Disruptive Capital Investments II Limited, but the fund has insisted that they have no present intention of making an offer for the company in full.

Disruptive says it “exploit dislocations in markets and unlock value from complex situations using a Get Rich and Stay Rich strategy.”

The board insisted that can be “no guarantee” that the conditions of the agreement will be satisfied as it is subject to approvals.

600 Group posted revenues of £45.3m for the year to 2 April, but also posted a profit warning earlier year and complained of a “lack of visibility” in sales.