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April 2, 1989

AB IN AGREED UKP5.3M BID FOR TANDATA

By CBR Staff Writer

Contract electronic manufacturing specialist AB Electronic Products Plc, Abercynon, South Wales, is making a diversification with the agreed acquisition of low-cost viewdata terminal and data communications products manufacturer Tandata Holdings Plc. AB is paying an initial 42.5 pence cash per Tandata share, plus two notes worth a maximum of another UKP1 per share. The initial payment values Tandata at UKP1.57m, and the earnout would bring the total up to UKP5.28m. Privately-held Tandata had a trading loss of UKP335,000 in 1988, and had net assets at year-end of UKP1.7m. AB has irrevocable acceptances for 63.1% of the shares. It has high hopes for the forthcoming Tantel viewdata terminal, but plans to close Tandata’s Malvern factory and move the work to South Wales, offering transfers to some staff.

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