White Noise

A much-maligned and oft-spurned company has attracted a new spark of interest - and might not remain the wallflower much longer.

The CS Holdings board must be breathing a sigh of relief now that Bytes Technology Group has made a firm offer to buy all the company`s issued shares at an effective 15.68c a share. Especially since acting CEO Dave Vink painted a pretty grim picture of CS Holdings` prospects at the release of its latest financial results.

Admitting that CS Holdings was technically insolvent, Vink said it was now dependent on the support of its bankers, which was not likely to continue without the backing of a white knight.