Equiniti Group PLC (LON:EQN) today provided an update on its proposed acquisition by Earth Private Holdings Ltd (Bidco), a newly-formed company owned by funds managed or advised by Siris Capital Group, LLC.
On May 27, 2021, EQ and Bidco announced that they had reached agreement on the terms of a recommended cash offer to be made by Bidco for the entire issued and to be issued share capital of EQ. It is intended that the acquisition will be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006.
EQ and Bidco announce that the shareholder circular relating to the Scheme is being sent, or made available, to EQ Shareholders today. The Scheme Document sets out, amongst other things, a letter from the Chair of EQ, the full terms and conditions of the Scheme, an explanatory statement, notices of the Court Meeting and General Meeting, an expected timetable of principal events and details of the action to be taken by EQ Shareholders.
The Scheme will also require the approval of EQ Shareholders at the Court Meeting and the passing of a special resolution at the General Meeting, and then the approval of the Court.
The Court Meeting and the General Meeting to approve the Scheme (and the steps contemplated by the Scheme) are scheduled to be held at 11.00 a.m. (London time) and 11.15 a.m. (London time) respectively on 19 July 2021 at the offices of Linklaters LLP, at One Silk Street, London EC2Y 8HQ.
