LONDON - Aquis Exchange PLC shareholders have voted overwhelmingly in favor of the acquisition of the company by SIX Exchange Group AG, a Switzerland-based financial services provider. The transaction is structured as a scheme of arrangement under Part 26 of the UK Companies Act 2006.
In a series of votes conducted today, Aquis shareholders approved both the scheme to effect the takeover and the special resolutions necessary to implement the scheme, including amendments to Aquis' articles of association. The votes were held during a Court Meeting and a General Meeting, with 99.97% of votes cast in favor of the acquisition at both sessions.
The total number of Aquis shares eligible for voting at the Court Meeting was 27,602,531, with 21,545,887 shares (or 78.06%) voting for the scheme and only 6,711 shares (or 0.02%) voting against. The approval satisfies key conditions of the acquisition process.
The next step in the acquisition process is the court sanctioning of the scheme at the Sanction Hearing, expected to occur in Q2 2025. The effective date of the acquisition will follow the sanctioning, with the last day of dealings in Aquis shares and their suspension from trading on AIM and the Aquis Stock Exchange to occur shortly thereafter.
The acquisition remains subject to the satisfaction or waiver of other conditions outlined in the Scheme Document. The indicative timetable for the acquisition's completion has been maintained, with the long stop date set for November 11, 2025.
Aquis and SIX had previously announced their agreement on the terms of the recommended cash offer on November 11, 2024. The successful vote is a significant milestone in the acquisition process, which is poised to reshape Aquis' future operations and ownership structure.
This report is based on a press release statement and does not contain any promotional material or endorsements of the companies involved.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.