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.

Read this next

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

<