| Beacon Bingo May Be Sold Again |
| Written by Mark Bennett |
| Wednesday, 13 April 2011 18:58 |
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Praesepe plc the parent company of Beacon Bingo and one of the UK's fastest growing gaming group, has confirmed in a statement that it has received an indicative offer from Marwyn Management Partners plc (MMP) to purchase all of the shares in the company. The potential offer values Praesepe ordinary share at 7.519 pence based on a price of 100 pence per MMP share. Praesepe has setup an independent committee of the Board to assess the attractiveness of the Possible Offer. CEO of Praesepe, Nick Harding, commented: "This development is very positive news for the business and represents a powerful endorsement of our acquisition strategy." Prasepe purchased the Beacon Bingo estate which included 26 adult gaming centres and 6 bingo clubs, amongst which was the club in Cricklewood, for around £45 million, last year. The company currently manages 171 adult gaming centres in the UK, four family entertainment centres, six bingo clubs and an online bingo web site.
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