The Islamic Bank of Britain is being acquired by the Qatari International Islamic Bank in an unconditional cash offer.
Under the terms of the deal, shareholders in the Islamic Bank of Britain can receive one penny in cash for each share. The terms of the offer value its fully diluted share capital at £25,464,700.
The Offer represents a 70.4% discount to the closing price of 3.38p per share last night.
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