Quite a material transaction ($8.2 million) in light of the market cap of ENA currently $21.5 million thereabouts.
My first impression is that it must be positive since both Tom Kent, MD, and Tony Leibowitz, Chairman, are both substantial shareholders in ENA, so must consider it positive.
Perhaps the macro economy for UK at the moment, especially with issues with political upheaval, outstanding Brexit issues, and European problems with Ukraine/energy make the transaction a safe option.
Ann: ENA signs non-binding agreement to sell its UK operations, page-3
Add to My Watchlist
What is My Watchlist?