Argentex Group PLC - London-based currency risk management - Chief Executive Officer Jim Rudman leaves immediately as Argentex on Friday says it has agreed to a £3 million cash takeover offer from IFX (UK) Ltd, trading as IFX Payments. Chief Operating Officer Tim Rudman is appointed as interim CEO. The announcement of Rudman’s departure on Friday is made as Argentex and IFX say they have reached agreement on an offer for Argentex by IFX at 2.49 pence per share in cash. Earlier last week, Argentex had said it was in advanced talks with IFX on a possible takeover, as it warned it required an immediate cash injection to ensure solvency. Argentex and IFX on Friday said they have support for the takeover offer representing 58% of Argentex shares.
Current stock price: closed at 43.20p on Tuesday last week prior to suspension for £53.0 million market capitalisation
12-month change: down 4.5%
Copyright 2025 Alliance News Ltd. All Rights Reserved.