Finance Feeds logo

Scheme of arrangement of SafeCharge acquisition by Nuvei becomes effective

Maria Nikolova

The scheme became effective today at 12.00 p.m and the entire issued and to be issued share capital of SafeCharge is now owned by Nuvei Bidco.

The scheme of arrangement of the recommended cash acquisition by Nuvei Bidco of the share capital of SafeCharge International Group Ltd (LON:SCH) became effective today at 12.00 p.m and the entire issued and to be issued share capital of SafeCharge is now owned by Nuvei Bidco.

SafeCharge shareholders will receive US$5.55 for each share held. Despatch of cheques and crediting of CREST accounts for the cash consideration due under the scheme will take place as soon as practicable and in any event within 14 days of today, the effective date.

SafeCharge also confirms that dealings in SafeCharge shares were suspended with effect from 7.30 a.m. earlier today. SafeCharge has made an application to AIM for the cancellation of the admission to trading of SafeCharge Shares on AIM, which is expected to take effect at 8.00 a.m. tomorrow, August 2, 2019.

In connection with the Acquisition, each of SafeCharge’s non-executive directors (Roger Withers, John Le Poidevin, Robert Caplehorn and Susanne Chishti) have tendered their resignations and will step down from SafeCharge’s board, effective as of today’s date.

The deal secured the Court’s approval yesterday. The Court determined it would grant an order sanctioning the Scheme pursuant to section 110(1) of the Companies Law of Guernsey.

Subscribe

Read this next

Fintech

TNS brings full-stack market data management to EMEA

“We are also delighted to have Ben Myers join our London-based TNS Financial Markets team as Head of Strategic Sales for EMEA, to bolster our presence in the region.”

Chainwire

Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.

Symbol of Ramp network
Executive Moves

INFINOX hires Mayne Ayliffe as Global Head of HR

“I look forward to working with our teams around the world to develop a strategic HR agenda that supports high performance and is centred on human motivation.”

Mayne Ayliffe joins INFINOX
Fintech

Sterling to provide risk and margin support for fixed income

“Firms must have the tools to effectively manage their risk across all asset classes. As yields rise, we see more exposure from clients in the fixed income space. We understand their need to measure and mitigate risk in a highly regulated environment.”

Retail FX

FXOpen launches HK share CFDs: Tencent, Alibaba, Xiaomi, Baidu

Hong Kong share CFDs will be commission-free for a limited period of time.

Retail FX

IronFX Celebrates an Award-Winning Start to 2024 with a Series of Industry Recognitions

IronFX, a global leader in online trading, has embarked on 2024 with a spectacular display of accolades that highlight its commitment to excellence and innovation in the competitive financial services sector.

Industry News

FIA urges CFTC to regulate use cases rather than AI itself

“We urge the CFTC to refrain from crafting new regulations that generally regulate AI because this approach presents certain well-known pitfalls. By approaching the issue from the perspective of AI as a technology, rather than the use case for the technology, corresponding regulations would likely necessitate a definition of AI. We anticipate that any attempt to properly define AI would be very challenging and require considerable resources.”

Education, Inside View

The Power of Public Relations in Finance: Shaping Perceptions & Building Reputation

It’s safe to say that the finance industry has faced its share of reputation crises over the years, from the 2008 financial collapse to the many scandals around irresponsible lending, political corruption, and even Ponzi schemes. 

Journalists interviewing a man with blue and red microphone
Digital Assets

Crossover’s crypto ECN executed over $3 billion in Q1 2024

“Our growth is also driving continued increases in the percentages of trades that are ‘Order Crossing Order’ (OXO). Currently, roughly 10% of all trades executed on CROSSx are OXO, another differentiator in our platform’s capacity. This capacity and our unique execution model provide value to both the market maker and taker, as evidenced by our commercial model.”

<
✖