Ricardo ( (GB:RCDO) ) has shared an announcement.
Ricardo plc has rejected demands from Science Group, which holds a 15.2% stake in the company, to replace key board members with their nominees. The Board views these demands as an attempt by Science Group to gain control without paying a takeover premium, especially as Ricardo is focused on simplifying operations and enhancing its focus on environmental and energy transition solutions. The Board believes Science Group’s actions could disrupt Ricardo’s strategic initiatives and potentially lead to governance non-compliance. Ricardo’s Board urges shareholders to reject Science Group’s demands, citing past aggressive tactics by Science Group in other takeovers.
More about Ricardo
Ricardo plc is a global strategic, environmental, and engineering consulting company listed on the London Stock Exchange. With over 100 years of engineering excellence and nearly 3,000 employees in more than 20 countries, Ricardo provides expertise in delivering innovative sustainable solutions across sectors, focusing on energy transition, environmental services, and smart transport solutions.
YTD Price Performance: -45.78%
Average Trading Volume: 703,330
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £138.7M
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