Lombard Risk Management PLC agrees to 13p a share cash offer


Banking and compliance software company () has agreed to a 13p a share takeover offer from Vermeg Group.


The shares shot up to 12.5p from last night’s close of 6.55p on the news.


The terms value Lombard at around £52.08mln. Vermeg has received irrevocable undertakings to accept the offer from shareholders accounting for around 38.8% of the issued share capital of Lombard.


Tunis-based Vermeg has provided information technology solutions to the financial services and insurance industry for more than 15 years and has become a key partner for custody/asset management and life assurance solutions in Europe.


For its part, Lombard Risk’s flagship COLLINE product is a major player in the field of monitoring, tracking and valuing the funds put up as collateral for a trade. The company is also a market leader in bank regulatory reporting software.


Vermeg expects that Lombard Risk will continue to operate as it does today under its existing executive management team within the Vermeg Group once the acquisition completes.


“The combination of Vermeg and Lombard Risk has very strong commercial logic,” said Philip Crawford, the chairman of…

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