Equiniti shareholders agree acquisition by Earth Private Holdings

Equiniti Group PLC (EQ) announced that a Court Meeting and General Meeting of EQ Shareholders in connection with the recommended acquisition of EQ by Earth Private Holdings Ltd (Bidco), has been held with all the resolutions proposed duly passed. 

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At the Court Meeting, a majority in number of Scheme Shareholders, who voted (either in person or by proxy) and who together represented over 75% by value of the votes cast, voted in favour of the resolution to approve the Scheme. The resolution was accordingly passed.

At the General Meeting, the Special Resolution to approve the Scheme and provide for its implementation, including the amendment to EQ's articles of association, was also passed by the requisite majority.

According to the press release of EQ, the completion of the acquisition remains subject to the satisfaction or waiver of the other Conditions set out in the Scheme Document, including (but not limited to) the Regulatory Conditions as well as the Court sanctioning the Scheme at the Scheme Court Hearing.

Fazzaco has reported that on May 27, 2021, EQ and Bidco 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 was intended that the acquisition would be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006. About one month later, the two parties updated the proposed acquisition by sending EQ Shareholders a shareholder circular relating to the Scheme.