Benny Steimetz-controlled Bateman Litwin NV (AIM:BNLN) yesterday announced that its majority shareholder, Bateman BV, an affiliate of BSG Resources Ltd. bought 13.4 million shares in the company at ₤0.025 per share. The purchase boosted Bateman's stake in Bateman Litwin to 69.69%.
Bateman Litwin's share rose 58% on London’s Alternative Investment Market (AIM) by midday to ₤0.05, giving a market cap of ₤5.6 million.
Earlier this week, Bateman Litwin announced that, at the request of Bateman, it will hold an extraordinary general meeting on October 23 to consider Bateman's request to delist the company from the AIM.
Bateman Litwin is a contractor for turnkey energy and chemicals projects.
In April, Steimetz delisted Bateman Litwin's sister company Bateman Engineering NV from the AIM.
Published by Globes [online], Israel business news - www.globes-online.com - on October 8, 2009
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