Bridgend pays £15m for Hemscott.net

NEWS Financial news site Hemscott.net, which was set up by publisher Hemmington Scott last year, has been bought by shell company Bridgend for £15m. If the acquisition is approved by shareholders the joint company will then seek a listing on the Alternative Investment Market mid-August with the aim of raising a further £18m. Secret talks about the deal were reportedly forced into the public domain when rumours appeared on the Hemscott.net user bulletin board.

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