Moss: Second biggest shareholder in Anexo
The lawyer couple behind listed credit hire and legal services group Anexo are set to team up with an asset management firm to take it private.
DBAY Advisors – with 28.5%, the largest single investor in Anexo – announced yesterday that together with barrister Alan Sellers and solicitor Samantha Moss, they were considering an offer for all of the company’s shares.
Mr Sellers, the group’s executive chair, and Ms Moss, managing director of the group’s law firm, Bond Turner, own 17.04% and 17.44% of Anexo’s shares respectively. The next largest shareholder has a 3.6% stake.
The announcement said they currently expected any offer to comprise entirely loan notes issued by a newly incorporated entity “jointly controlled by funds managed or advised by DBAY, and Alan Sellers and Samantha Moss, or ordinary shares with an underlying economic interest in the newly incorporated entity making the proposal”.
They now have until 20 May to announce either a firm intention to make an offer for Anexo or that they do not intend to make one.
DBAY considered making an offer for Anexo back in 2021 after buying its stake from the two lawyers but eventually called it off. Mr Sellers and Ms Moss made £46m from that sale of shares.
Anexo’s shares shot up 20% to 61p in wake of the news, having reached an all-time low of 51p. Anexo listed in 2018 at 100p and at the height the following year were double that.
Its 2024 results are due to be published next month. Its half-year results showed a 12% drop in group revenue to £69m and 61% slump in profit to £5.9m, the latter figure being “in line with management expectations” – partly because 2023’s figures included costs paid by Volkswagen as part of the settlement of the diesel emissions group claim.
Bond Turner has grown rapidly, and been expanding its housing disrepair and group litigation practices in particular.
A list of the richest businesswomen in Greater Manchester and Liverpool published last year by Insider Media put Ms Moss “and family” sixth, noting that in addition to the value of their shares, she and Mr Sellers “have also done well from dividends and share sales over the years”.
It said she had a net worth valued at £50m.
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