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LONDON - GetBusy plc (AIM:GETB), a provider of productivity software for professional and financial services, announced Monday that its shareholder concert party established at its 2017 IPO has been revised following an agreement with the Panel on Takeovers and Mergers.
The company confirmed that Greg Wilkinson is no longer considered part of the concert party due to changes in his relationship with Clive Rabie. Additionally, the Reckon Limited Performance Share Plan Trust no longer holds any shares in the company.
The revised concert party now consists only of Clive Rabie and Daniel Rabie, who collectively hold 11,421,322 shares, representing 22.5 percent of GetBusy’s issued share capital. This is down from the previous concert party’s 15,112,093 shares, which represented 29.8 percent of the company’s shares.
Under the City Code on Takeovers and Mergers, the restructured concert party can now acquire additional shares without triggering a mandatory offer for the entire company, provided their aggregate interest does not reach or exceed 30 percent of GetBusy’s voting shares.
A concert party, as defined by the Code, consists of persons who cooperate through an agreement to obtain or consolidate control of a company or to frustrate a takeover offer.
The company also announced it will release its financial results for the six months ending June 30, 2025, on Tuesday, September 9.
GetBusy, which went public on August 4, 2017, reports having nearly 70,000 paying users and over 4 million collaborators across various market sectors and jurisdictions. The information was disclosed in a company press release statement.
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