Cashbox reports bid approach

Cashbox reports bid approach

Shares in Cashbox, the independent ATM operator set up by former Hanco executives, jumped over 10% after it confirmed that it had received an early stage bid approach that could lead to an offer for the business.

Cashbox stock had risen 13.20% to 30.00 pence by mid-day after the firm released a statement saying it has received "expressions of interest which may or may not lead to an offer being made".

The company says the talks are at a "preliminary stage" and there can be no guarantee that any offer will be made.

Cashbox was set up in September 2003 by Carl Thomas - a former sales director at ATM firm Hanco which was acquired by Royal Bank of Scotland in 2004 - and his brother Matt. The firm floated on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE) last year.

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