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.

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