Fire Angel Safety Technology Group PLC (AIM:FA.)'s share price surged 18% after the Secretary of State approved Intelligent Safety Electronics's (ISE) £28 million takeover bid.
The offer required approval under the National Security and Investment Act 2021. In December, the offer's timeline was paused due to unmet conditions.
Yesterday, the Secretary of State granted approval with conditions, including security vetting for key personnel and appointing a Chief Information Security Officer. ISE is reviewing these conditions to determine their acceptability. A further announcement will follow soon.
FireAngel shares were up 0.75p at 5p each.