Business
Acquisition of Appreciate Group
Acquisition of Appreciate Group.
About this update from Paypoint Plc
[{"type":"text","content":"\n \n \n NOT FOR RELEASE\n \n ,\n \n PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART\n \n , DIRECTLY OR INDIRECTLY,\n \n IN\n \n ,\n \n INTO OR FROM ANY\n \n J\n \n URISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH\n \n J\n \n URISDICTION\n \n \n \n THIS ANNOUNCEMENT IS DEEMED BY APPRECIATE GROUP PLC AND PAYPOINT PLC TO CONTAIN INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION NO 596/2014 (INCORPORATED INTO UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED BY VIRTUE OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n 7 NOVEMBER 2022\n \n RECOMMENDED OFFER\n \n \n FOR\n \n \n APPRECIATE GROUP PLC\n \n (\n \n \"APPRECIATE GROUP\"\n \n )\n \n \n \n BY\n \n \n PAYPOINT PLC\n \n (\n \n \"PAYPOINT\"\n \n )\n \n \n \n to be implemented by means of a Court-sanctioned scheme of arrangement\nunder Part 26 of the Companies Act 2006\n \n \n \n Summary\n \n \n \n \n \n \n \n ·\n \n \n \n \n The boards of directors of PayPoint and Appreciate Group are pleased to announce that they have reached agreement on the terms of a recommended offer pursuant to which PayPoint will acquire the entire issued and to be issued share capital of Appreciate Group (the \"Acquisition\"). It is intended that the Acquisition will be effected by means of a Court-sanctioned scheme of arrangement between Appreciate Group and relevant Appreciate Group Shareholders under Part 26 of the Companies Act 2006 (the \"Scheme\").\n \n \n \n \n \n \n ·\n \n \n \n \n Under the terms of the Acquisition, Appreciate Group Shareholders will be entitled to receive:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n for each Appreciate Group Share:\n \n \n \n \n \n \n 33\n \n p\n ence in c\n a\n s\n h\n \n \n and\n \n \n \n 0.0190 New PayPoint Shares\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Each Appreciate Group Shareholder will also be entitled to receive and retain a dividend of up to 0.8 pence per Appreciate Group Share which is declared by the board of Appreciate Group and paid in respect of the six-month period ended 30 September 2022.\n \n \n \n \n \n \n ·\n \n \n...