AIT Investments seeking possible offer for Goldshield

AIT Investments says that it is actively pursuing a possible all-cash offer for UK-based pharmaceutical and consumer health company Goldshield Group, in conjunction with Ajit Patel, the former chief executive of Goldshield.

AIT is completing its due diligence and expects to clarify its position shortly. A further announcement will be made when appropriate, it said.

Commenting recently on the firm's half-year results, Rakesh Patel, chief executive was upbeat about the company's performance, noting that pretax profits had increased 71.8%, revenue was up 15.9% and cash reserves have grown to £27.5 million ($44 million). 'I fully intend to use our resources to invest in new product introductions via development, in-licensing and acquisitions together with the scaling and building of our brands. Sustainable long-term growth is an area at the forefront of our objectives. We are entering an exciting period for Goldshield and I am confident that we can continue to drive value for our shareholders," he said.