AIT bid from Perpetual founder Arbib

Founder of Perpetual Martyn Arbib and former board member at the group Geoffrey Probert are among a group of investors launching a financial rescue bid for Henley-based software company AIT. Subject to AIT shareholder approval, the group of investors will provide £8.5m of new equity finance into the company, on the basis that a further £12m is secured through a combination of a bank debt swap or equity, a placing and a rights issue. The group of investors also includes Invesco Perpetual's Roger Cornick, who is still under contract with the company but has no clearly defined role at the...