Argentex Shareholders Approve Acquisition by IFX Payments
Why we think this is neutral
This RNS announcement is an Annual General Meeting Statement, which does not fall into any of the mandatory news types that require detailed analysis. The announcement provides an update on the proposed acquisition of Argentex by IFX Payments, which has been approved by shareholders.
Key Points
- Shareholders approve recommended cash acquisition of Argentex by IFX Payments
- Acquisition remains subject to regulatory approvals and other conditions
- Announcement provides details on the events leading to the proposed acquisition, including liquidity issues and involvement of executive management
Summary
Argentex Group PLC has announced that the recommended cash acquisition of the company by IFX (UK) Ltd (trading as IFX Payments) has been approved by shareholders at the Court Meeting and General Meeting. The acquisition remains subject to regulatory approvals and certain other conditions. The announcement also provides details on the events leading up to the proposed acquisition, including liquidity issues faced by Argentex and the involvement of the executive management team.