Guy Naggar and Peter Klimit, who run investment firm Dawnay Day, would pocket nearly £2m profit between them if yesterday’s £28m management buyout approach for Paramount succeeds.
The two led the acquisition of Chez Gerard, which Paramount owns, in April last year. Dawnay Day’s 15% stake would be worth £4.2m at the proposed takeover price of “up to 35p a share”.
Paramount, whose other restaurant brands include, Livebait, Café Fish and Bertorelli, fell 1p to 34p.
A successful buyout would see Paramount quit the stock market.
The Times 19/06/04 page 58, page 59 (Need to know)
Financial Times (Money & Business) 19/06/04 page 2 (Lombard), page 4
The Daily Telegraph 19/06/04 page 29 (In Brief)
