London marketing support company and Internet technologies dilettante, Firecrest Plc has finally found a new home after being turfed off the Alternative Investment Market in October for failing to appoint a new advisor after its original one resigned. It is recommending an all-paper offer from US shell firm Super Phone International Inc which it values at 16.1m pounds. Super Phone abandoned its core business, providing telephone directory services, in April after heavy losses and has been looking for acquisitions. The offer, valued at 68.6 pence a share, is at a 54% premium to Firecrest’s share price at the time it was delisted, but in return, holders only get paper traded on the pink sheets highly speculative bulletin board market, which is junior to the full Nasdaq market. Broker Keith Bayley Rogers will handle UK trades.
