ADVFN PLC (AIM:AFN), the financial information provider, announced it is to conduct a strategic review and invited offers for the company.
The board noted several recent announcements from significant shareholdings and said it is concerned that control of the company may be being sought by a long-standing group of shareholders whose total interests may not be aligned with shareholders as a whole.
As a result, it has kicked off a strategic review aimed at creating and/or realising shareholder value. The latter option would include a possible sale of the company.
On December 29, Amit Tauman announced a 5.78% stake in the company while Yair Tauman’s stake declined to 13.01% from 18.31%.
Shares in ADVFN were up 13% at 79p in the first hour of trading, up from 35.5p a year ago.