Orchid Technology Inc, the Fremont, California maker of personal computer add-on boards, has decided that low turnover in its shares, and the costs involved, mean that it is not worth maintaining its listing on London’s Unlisted Securities Market: it is making a tender offer of 60 pence a share – against a market price of 65 pence before the announcement, for 500,000 of the 1.54m shares not closely held, and will ask shareholders to approve the plan to delist the shares at the annual meeting on December 3; it floated here in April 1987, and does not have a quote in the US.
