Rossmont receives two bids

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The Independent Online
ROSSMONT, the maker of vandal-proof, stainless-steel lavatories for football stadia and prisons, has received two bid approaches, writes Nigel Cope.

Robert Burns, chairman, said that both the bids were for up to 29.9 per cent of the shares. 'We did not invite the bids but they would be in the interest of shareholders.'

He would not reveal the level of the bids nor the identity of the suitors but said one was British and the other from overseas.

The shares finished unchanged at 15p yesterday.

Rossmont, which is capitalised at about pounds 2.5m, came to the stock market in December last year as the holding company for Santric, which makes anti-vandal urinals in Swindon. It also has a presence in hospitals, where it sells mortuary trolleys and sinks. The group was said to be on the acquisition trail but management attention has been distracted by the bid offers. The company expects to make a further announcement next week.