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LONDON - The High Court of Justice in England and Wales has sanctioned the scheme of arrangement for Brillian UK Limited’s cash acquisition of Trakm8 Holdings plc, according to a press release statement issued Monday.
The acquisition, first announced on May 1, 2025, will see Brillian UK, a company within the Omegro portfolio and indirectly owned by Constellation Software Inc (TSX:CSU)., purchase the entire issued and to be issued ordinary share capital of Trakm8.
The scheme is expected to become effective on July 9, 2025, when the Court Order is delivered to the Registrar of Companies. The last day of dealings in Trakm8 shares will be July 8, with the scheme record time set for 6:00 p.m. the same day.
Trading of Trakm8 shares on AIM is expected to be suspended at 7:30 a.m. on July 9, with cancellation from admission to trading taking effect at 7:00 a.m. on July 10.
Trakm8 shareholders approved the scheme on June 19 at both the Court Meeting and General Meeting by the requisite majorities.
As of the announcement, Trakm8 has 49,975,002 ordinary shares of 1 pence each in issue, with International Securities Identification Number GB00B0P1RP10. The company also has £2,695,472.32 of Convertible Loan Notes outstanding, which if converted would result in an additional 33,277,430 ordinary shares.
The acquisition is being implemented through a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006, with full details provided to shareholders in a circular dated May 21, 2025.
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