The chairman of one of the UK’s oldest family businesses has posted a formal offer to de-list the jewellery and medal maker and return it to full family ownership.
Bryan Toye, a direct descendent of the original founders of Toye & Co, took a controlling interest in the Birmingham company last week, and immediately announced a 35p per share offer to remaining shareholders.
Independent directors have recommended shareholders reject the offer saying it does not represent fair value for the company.
