Niox Group proposes £12.5 million tender offer at 80p per share

Oxford-based medical device firm Niox Group plc (AIM:NIOX) has announced a tender offer worth up to £12.5 million to return capital to shareholders. The company is offering qualifying shareholders the opportunity to tender up to 15,625,000 ordinary shares at 80 pence each. This tender price is 22% above the stock's mid-market closing price on September 28, 2026, and 27% higher than the three-month average price.

If all shares are tendered, the buyback would account for roughly 3.7% of the company's total issued ordinary shares. Shareholders will have the option to tender up to 3.7% of their holdings, with extra shares being allowed if other investors submit fewer than their entitled amount. The tender process will be managed by Singer Capital Markets Securities Limited, who will act as the company's principal buyer before selling the shares back to Niox under a repurchase agreement.

Niox Group reported revenues of £24.0 million for the six months ending June 30, 2026, compared to £25.2 million in the previous year. Adjusted EBITDA was £8.3 million, a decrease from £9.2 million. As of June 30, 2026, the company had £16.8 million in cash following a £6.5 million dividend payment in June. Currently, Niox Group holds approximately £17.4 million in cash with no debt outstanding.

The tender offer requires shareholder approval by a special resolution at a general meeting scheduled for 11:00 a.m. on October 21, 2026, at Niox Group's Oxford offices. The board has recommended shareholders vote in favor of the resolution, though they do not specify whether to participate in the offer. Directors with ordinary shares have indicated they will vote in favor and tender their basic entitlement, which amounts to 357,043 shares, or about 0.1% of the company's total issued share capital.

The tender offer opens on September 30, 2026, and closes at 1:00 p.m. on October 20, 2026. The final results are expected to be announced on October 22, 2026.