A FTSE 250 property investment group has called time on its London listing after criticism over its failure to appoint any female directors to its board.
Daejan Holdings, which is the only company in the FTSE 350 not to have a female director, is to be taken private by its billionaire founding family in a deal that values the business at £1.3 billion.
The strictly orthodox Jewish Freshwater family owns 79.5 per cent of the business and it will pay £269.5 million for the remaining 20.5 per cent, which works out to £80.50 a share.
The offer represents a 58 per cent premium to the average price of Daejan’s stock over the past six months and is above the record high of £70.05 achieved in May 2017.
