ALMOST £5 million was added to the market value of East Kilbride-based Goals Soccer Centres after its shares climbed 7.5% to a 17-month high on takeover interest from Patron Capital, owner of rival Scottish-based five-a-side football operator Powerleague.
East Kilbride-based Goals has been in takeover talks with Canadian investor the Ontario Teachers' Pension Plan for the last three months, which analysts have estimated could put in a bid of as much as £76.8 million.
After Patron confirmed its interest yesterday, hopes of a bidding war prompted a 9.5p surge in Goals' shares to 136.5p, a level not seen since February 2011.
The move added £4.6m to the market value of Goals, which now stands at £66.4m.
Patron said it is "considering its options" in respect of Goals, "which may or may not result in an offer" for the company.
Goals said: "The company confirms that it has received an approach from Patron that may or may not lead to an offer being made for the company.
"There can be no certainty that an offer will be made for Goals, nor as to the terms on which an offer may be made."
It added: "Goals also continues to be in discussions with Ontario Teachers' Pension Plan."
Goals, which runs 43 five-a-side football sites in Britain and has a centre in Los Angeles, received an approach in April from Ontario Teachers' Pension Plan, whose investments include Canadian ice hockey team the Toronto Maple Leafs and UK lottery operator Camelot.
The deadline for a bid has been repeatedly extended and, as it stands, the Ontario fund must either bid for the company or bow out by July 9.
Glasgow-based Powerleague was taken private by Patron, previously a minority shareholder, in a £42.5 million bid in 2009.
Goals and Powerleague, which operates 45 centres, have a common heritage in that Goals chief executive Keith Rogers previously sold five-a-side football firm Anchor International, which traded as Pitz, in 1999 for £28m to 3i. The private equity group combined it with rival Powerplay to form Powerleague.
It was listed on the stock market on the Alternative Investment Market in April 2005 before Patron took it private again, refinancing its debt and bringing in some new directors including controversial sports presenter Richard Keys.
Goals was formed in November 2000 as the management buyin of an existing five-a-side business with five sites.
By the time it listed on the stock market in 2004 another six had been added and it now has 43 centres across the UK, including one in Aberdeen and two in Glasgow.
Goals's largest shareholder is Mr Rogers, whose 8.4% stake has a paper value of £5.6m at last night's closing price.
While the Ontario fund indicated it intended to keep on Goals's existing management team, it is not known what Patron's plans are and whether it would seek to combine the two businesses. Goals charges around £5.50 per head for its pitches. Income from games accounts for around 70% of revenues with the rest coming from the likes of bar sales, birthday parties and corporate events.
Last year Goals posted a 21% increase in pre-tax profit to £9.2m. However, it has halted its expansion drive in order to squeeze more profits out of existing sites.
It is also embroiled in a dispute with HM Revenue & Customs about whether value added tax is payable on bookings for its leagues.
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