RAB Capital set to delist after agreeing buyout terms

RAB Capital has agreed terms over a proposed management buyout as the troubled hedge fund looks to delist from the AIM stock exchange.

The buyout group, lead by four RAB directors, has offered 10p per share for the business, a premium of almost 23% over the middle market price on 23 June, the day before the original proposal. RAB's remaining four directors, who formed an independent committee to evaluate the MBO last month, are now unanimously recommending shareholders vote in favour of the resolutions. The proposal, first announced last month, will see RAB delist from AIM and reform as a private company, RAB Holdings, subject to shareholders passing a special resolution at a company general meeting on 10 August. ...