Cambria’s management team, including CEO Mark Lavery, finance director James Mullins and managing director Tim Duckers, has offered 80p a share for the business to take the plc private.
A stock market statement issued this morning reported: “There can be no certainty that an offer will be made. A further announcement will be made when appropriate.”
At 80p a share Cambria would be valued at £80 million.
The share price closed last week at 66p and has been as high as 71p in the past year. The all-time share price high was 83.5p in 2015.
In its most recent results issued in November 2020, Cambria claimed a resilient performance for the year to 31 August 2020 despite the impact of Covid-19 and the closure of showrooms in mid-March to the start of June. The franchised dealer group’s financial year finished with a revenue figure down 20.3% at £524 million and pre-tax profit down 18.4% at £10.2m.
Cambria has 42 new car franchises with a large proportion in the upper premium segment. The group expects to announce its results for the six months to 28 February 2021 on 5 May 2021.