Firstly, Aim-traded Stadium Group (SDM: 130p), a specialist provider of niche electronic technologies, has announced the acquisition of Stontroncis, a UK based maker and distributor of power supply units, transformers and adaptors, for an initial consideration of £5.5m.
A placing and one-for-34 open offer at 110p a share will raise net proceeds of £5.5m in total net of costs to fund the deal. Existing shareholders can apply for additional open offer shares at the discounted price through an excess application facility, an option I would strongly advise taking up as this looks a smart bolt-on purchase and one that is highly complementary to Stadium’s existing power business with little overlap between products and customers.