As expected, investors in Shield Therapeutics PLC (AIM:STX, OTCQX:SHIEF) have shunned AOP Health International Management’s mandatory offer for the remaining shares in the business it doesn’t already own.
AOP triggered the mandatory offer requirements by converting debt to equity and therefore taking its holding and other parties deemed to be working with AOP to 41.9%. Investors have been offered 6.2p a share – a discount to the current price.