• Provides trading and risk management software
• Management has recommended a deal to take company private
• Offer from Hanover is worth 10p per share
What Brady does
Brady PLC (LON:BRY) provides trading and risk management software for the Commodity and Energy markets covering the entire trading operation from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, soft commodities and agricultural products.
The company says it has 200 customers worldwide, including some of the largest global financial institutions and corporations.
How it's doing
In February, Carmen Carey became the company’s new chief executive while its executive chairman Ian Jenks switched into a non-executive role
Carey previously served as chief operating officer (COO) of artificial intelligence company Unbabel and a former winner of the Bronze Stevie Award for Most Innovative Woman of the Year in Technology, one of the world's top honours for female executives.
In October, Brady received a takeover offer from finance group Hanover pitched at 10p per share and valuing the group at £8.3mln.
in November, Hanover agreed to provide Brady with £1.25mln to boost its working capital with another £2.75mln to come if its takeover is accepted.
Hanover’s founding partner, Matthew Peacock, said the take-private deal will help Brady “drive growth and deliver best in class products and services”.
- Completion of Hanover takeover after the shareholder meeting.
- Offer is recommended and has been declared unconditional