BasePoint raises offer for International Personal Finance to 235 pence

LONDON - International Personal Finance plc (IPF) announced Wednesday that it has received a revised takeover proposal from BasePoint Capital LLC, increasing the cash offer to 235 pence per share from the previously proposed 220 pence.

The IPF board stated it would be "minded to recommend unanimously" the revised offer to shareholders should BasePoint announce a firm intention to make an offer on these financial terms, subject to agreement on other terms and conditions.

The revised proposal represents a 6.8% increase from BasePoint’s initial offer announced on July 30. IPF shareholders would also remain entitled to receive the previously declared interim dividend of 3.8 pence per share, expected to be paid on September 26.

According to the announcement based on a press release statement, BasePoint has completed its due diligence, but the offer remains subject to several customary pre-conditions, including approval from BasePoint’s board.

The Panel on Takeovers and Mergers has extended the deadline by which BasePoint must either announce a firm intention to make an offer or declare it does not intend to proceed. The new deadline is 5:00 p.m. London time on October 22, 2025.

IPF cautioned that there is no certainty a firm offer will materialize even if pre-conditions are satisfied or waived.

Under takeover rules, BasePoint reserves the right to reduce its offer price under specific circumstances, including if a third party announces a lower-valued bid for IPF or if IPF declares additional dividends beyond the interim payment already announced.

The company remains in an offer period in accordance with the City Code on Takeovers and Mergers.

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