**Summary**
Dewhurst Group PLC, a global manufacturer and supplier of components to the lift, transport, and keypad industries, has announced a proposed tender offer, delisting from AIM, and re-registration as a private limited company. The company plans to return up to £25.0 million to qualifying shareholders through a tender offer, offering premiums of 23% for A Shares and 14% for Ordinary Shares. This will be funded by existing cash resources and a new £20.0 million debt facility from HSBC. The tender offer is inter-conditional with the delisting and re-registration, requiring approval at a General Meeting on August 21, 2025.
The delisting is motivated by the companys belief that maintaining a public listing is no longer in its best interest due to changing market conditions, limited liquidity, and high costs. Following delisting, the company will establish a Secondary Market Trading Facility to provide shareholders with a means to trade shares, though liquidity is not guaranteed. The re-registration as a private company is expected to reduce overhead costs and provide more flexibility.
The tender offer, delisting, and re-registration are subject to shareholder approval, with the board recommending shareholders vote in favor of the resolutions. The company has received irrevocable undertakings from major shareholders, representing 74.2% of voting rights, to support the proposals. If approved, the delisting will take effect on September 11, 2025, and re-registration is expected by September 26, 2025. Shareholders are advised to consider the implications carefully and seek independent advice if necessary.