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LONDON - Kinovo plc, a UK-based company, is set to be acquired by Sureserve Compliance Holdings Limited, a subsidiary of Sureserve Group Limited, through a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. The acquisition terms were agreed upon by the boards of both companies on May 14, 2025, with the transaction involving an all-cash offer for the entire issued and to be issued ordinary share capital of Kinovo.
The acquisition process is detailed in a scheme document that has been dispatched to Kinovo shareholders, outlining the full terms and conditions, an explanatory statement, and an expected timetable of principal events. Shareholders are provided with forms of proxy for the upcoming Court Meeting and General Meeting, scheduled for June 23, 2025, at Canaccord Genuity Limited’s offices in London.
To proceed, the scheme requires approval from a majority of voting Kinovo shareholders, representing at least 75% in value of the shares voted at the Court Meeting, the passing of a special resolution at the General Meeting, and subsequent court sanction. Kinovo’s directors, advised by Canaccord Genuity, have deemed the financial terms of the acquisition fair and reasonable and are recommending that shareholders vote in favor of the scheme.
Additionally, Kinovo share scheme participants will receive information on how the acquisition will affect their rights under the Kinovo share schemes. The scheme document and associated proxy forms are available on both Kinovo’s and Sureserve’s websites, excluding certain jurisdictions where access is restricted.
This acquisition announcement is based on a press release statement and reflects the final terms of the offer, which will not be increased unless a third-party offeror announces an intention to make a competing bid for Kinovo. Shareholders are urged to submit their votes for the Court Meeting by June 19, 2025, to ensure a fair representation of opinion.
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