LONDON - Equals Group plc, a financial technology company, is set to be acquired by Alakazam Holdings BidCo Limited, a consortium-led entity, through a court-sanctioned scheme of arrangement, the company announced today. The acquisition, which was agreed upon on December 11, 2024, involves an all-cash transaction for the entire issued and to be issued ordinary share capital of Equals.
The Scheme Document detailing the acquisition terms, along with Forms of Proxy, has been dispatched to Equals shareholders for review and action. The document includes a letter from the Chairman of Equals, the scheme's full terms, and the expected timetable of principal events, among other necessary information.
Equals shareholders are encouraged to promptly submit their proxy appointments for the upcoming Court Meeting and General Meeting, both scheduled for January 8, 2025, at the offices of Ashurst LLP in London. The Court Meeting will commence at 2:00 p.m., followed by the General Meeting.
The Equals Directors, with financial advice from Canaccord Genuity Limited and Lazard (NYSE:LAZ) & Co. Limited, have endorsed the acquisition's terms as fair and reasonable. The directors have unanimously recommended that shareholders vote in favor of the scheme and have committed to vote their own combined 2.203% beneficial holdings accordingly.
To facilitate shareholder participation, a helpline operated by Link Group, the company's registrar, has been established for any queries related to the Scheme Document or voting procedures.
Subject to shareholder approval, court sanction, and other customary conditions, the acquisition is expected to be finalized in the second quarter of 2025. Post-acquisition, Equals Shares are anticipated to be delisted from the AIM market the business day following the effective date of the scheme.
This announcement is based on a press release statement issued by Equals Group plc.
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