LONDON, UK: Tibergest PTE Ltd, a company wholly-owned by Serge Crasnianski, has offered to acquire all shares in Photo-Me, not already held by Tibergest and Crasnianski, at a price of 75 pence/share.

The offer values the entire issued and not to issued share capital of Photo-Me at £284.5 million.

Meanwhile, Tibergest PTE Ltd has agreed to acquire 29,111,186 Photo-Me shares (representing approximately 7.7 per cent of the existing issued share capital of Photo-Me) at a price of 70 pence per share from the Dan David Foundation (DDF).

Tibergest PTE Ltd, a company wholly-owned by Serge Crasnianski, the Chief Executive Officer of Photo-Me International plc. As at 20 January 2022, Tibergest and Serge Crasnianski held in aggregate 108,837,410 Photo-Me shares (representing approximately 28.8 per cent of the existing issued share capital of Photo-Me).

Serge Crasnianski, has, directly and indirectly through his wholly-owned company Tibergest, held one of the largest shareholdings in Photo-Me for approximately 30 years, since the date of the partnership between Key Independent Systems (KIS) (then controlled by Serge Crasnianski) and Photo-Me.

The offer also provides Photo-Me shareholders with a liquidity opportunity on no less favourable financial terms as those provided to DDF by virtue of the acquisition.

Photo-Me is a public limited company incorporated in England and Wales and premium listed on the London Stock Exchange. It operates, sells and services a wide range of instant service vending equipment, primarily aimed at the consumer market.

They currently have more than 44,600 vending units in operation, the majority of which are operated and maintained by Photo-Me in 18 countries worldwide and its financial performance is reported with regard to three geographic regions: Continental Europe, UK & Republic of Ireland and Asia.