Business
Possible offer for CAB Payments Holdings plc
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO...
About this update from Helios Fairfax Partners Corp.
[{"type":"text","content":"Possible offer for CAB Payments Holdings plc\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE “CODE”) AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE EVEN IF ANY PRE-CONDITIONS ARE SATISFIED OR WAIVED Helios Consortium statement TORONTO, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Introduction The Helios Consortium (as defined below) announced at 07:00 on Monday 2 February 2026 that it was seeking the recommendation for an increased possible offer it made on Thursday 29 January 2026 to the board of CAB Payments Holdings plc (“CAB Payments”) of US$1.15 in cash per existing CAB Payments share to acquire the entire issued and to be issued ordinary share capital of CAB Payments excluding those shares already held by Helios Fund III (as defined below) (the “Increased Possible Offer”). At 12:37 on Monday 2 February 2026 CAB payments rejected the Increased Possible Offer. This announcement provides CAB Payments shareholders with further background to the Increased Possible Offer. CAB Payments shareholders are encouraged to ask the CAB Payments Board to reconsider its rejection of the Increased Possible Offer. Background to the Increased Possible Offer Helios Fund III has been invested in CAB Payments since 2016 and remains a long-term supporter of CAB Payments. However, The Helios Consortium believes CAB Payments is facing significant strategic challenges. The market and competitive environment in which CAB Payments operates is undergoing rapid and fundamental change: Regulatory developments have lowered barriers to entry across key currency corridors facilitating the proliferation of well-capitalised and technologically advanced competitors in CAB Payments’ core marketsRapid adoption in CAB Payments’ core markets of cross-border payment systems based on stablecoins and other digital currencies represents a fundamental change in the operating environment and markets for FX and cross-border payments. Stablecoi...