The deadline for a takeover offer of historic Birmingham manufacturing company Toye & Co plc has been extended by another month.
In June, chairman Bryan Toye announced he wanted just a week after taking a controlling interest and
In an update to the stock exchange today, Mr Toye said his buyout vehicle Bryan Toye Ltd had received acceptances in respect just over 28 per cent of the company's entire issued share capital.
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This means that Brian Toye Ltd and its concert parties now own or have received acceptances in respect of 79.12 per cent the firm's entire issued share capital.
The offer to the remaining shareholders for their stakes in the -based business has now been put back to September 3, 2014.
Last month, shareholders were from Bryan Toye Ltd when independent directors said it fell short of a price representing fair value for the company.
If successful, Bryan Toye intends to remove all Toye & Co directors who are not members of the Toye family.
Toye & Co was founded in 1685 and designs and manufactures jewellery and identity products for governments, corporates, societies, clubs and associations.
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In addition to its metalworking base in the city's Jewellery Quarter, it has an office in London and a textile production operation in Bedworth, Warwickshire.
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