Over 90% voted in favour of the acquisition
James Hay is set to buy advisory platform Nucleus.
An agreement was announced on 9 February 2021 for an all-cash offer of £145m ($201m, €167m).
James Hay initially submitted a scheme of arrangement offer, which required 75% of voting rights in favour of the acquisition.
This prompted the wealth firm to make a contractual takeover offer, which only needed to be formally accepted by 50% of shareholders, to ensure “greater certainty of execution”.
As of 1pm on 4 May 2021, holders of 70,150,582 Nucleus shares – who represent 91.73% of the issued share capital – sent valid acceptances to James Hay.
They include the 55.88% belonging to Nucleus directors and shareholders that had already given “irrevocable undertakings to accept the offer”.
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ஜேம்ஸ்-வைக்கோல்-ஹோல்டிங்ஸ்
subsidiary of Indirect Education Holdings Limited) Offeror identified: 10:43 01-Apr-2021 Rule 2.6 deadline: N/A Disclosure of dealings and positions in this offeror is not required Notes: 1. Rule 8 of the Takeover Code (the Code ) sets out the circumstances in which Dealing Disclosures and/or Opening Position Disclosures are required to be made by the parties to an offer, persons acting in concert with them, persons with an interest in relevant securities of 1% or more and exempt principal traders ( EPTs ) connected with the parties to an offer. 2. Where an offeror is marked Disclosure of dealings and positions in this offeror is not required , dealings and positions in relevant securities of that offeror are not required to be disclosed under Rule 8. This is either because it has been announced that the offer or possible offer is, or is likely to be, solely
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