Inspired says major shareholder supports possible HGGC bid

(Sharecast News) - Inspired said in an update on Wednesday that its largest shareholder, Gresham House Asset Management, has indicated support for a potential 81p-per-share cash offer from HGGC, should a firm and recommended bid be made. Gresham House, which holds or controls voting rights over nearly 30% of Inspired's issued share capital, as well as warrants and convertible loan notes, had signalled it would accept such an offer on the proposed terms.

The AIM-traded firm said the potential bid, first announced as a superior proposal by HGGC, remained subject to further developments, with no certainty that a formal offer would be made at this stage.

At 1211 BST, shares in Inspired were down 0.81% at 76.38p.

Reporting by Josh White for Sharecast.com.