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LONDON - Shareholders of Trakm8 Holdings plc have approved the recommended cash acquisition by Brillian UK Limited, a company within the Omegro portfolio indirectly owned by Constellation Software Inc (TSX:CSU).
At meetings held Thursday, Trakm8 shareholders voted overwhelmingly in favor of the acquisition, which is being implemented through a court-sanctioned scheme of arrangement. The Court Meeting saw 99.32% of votes cast supporting the scheme, representing 70.23% of Trakm8’s issued share capital. At the General Meeting, 99.31% of votes approved the special resolution giving directors authority to implement the scheme.
The acquisition, first announced on May 1, has now satisfied two key conditions with shareholder approval secured. The transaction remains subject to additional conditions outlined in the scheme document.
Trakm8 and Brillian UK expect the acquisition to complete on July 9, pending court sanction of the scheme and satisfaction of remaining conditions.
The voting results showed strong shareholder support, with 35,097,731 shares voted in favor at the Court Meeting compared to 241,323 against. Similarly, at the General Meeting, 34,865,485 votes supported the special resolution with only 241,787 against.
Trakm8 has 50,004,002 shares in issue, with 29,000 held as treasury shares, resulting in 49,975,002 total voting rights at the record time.
This information is based on a press release statement issued by Trakm8 Holdings plc.
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