Windward Provides Withholding Tax and Settlement Update for Acquisition
Why we think this is neutral
This RNS is a regulatory announcement providing an update on the withholding tax, settlement, and timetable for the recommended cash acquisition of Windward. It does not contain any material financial information or updates on the company's trading performance. As such, the sentiment is neutral as there is no significant positive or negative news.
Key Points
- Windward has obtained a withholding tax ruling from the Israel Tax Authority
- A tax portal has been set up to help Qualified Windward Shareholders complete the required declaration form
- Significant Shareholders and Registered Shareholders will need to provide a tax exemption certificate
- The completion of the acquisition is now expected on 18 March 2025, with the first settlement payment anticipated two weeks after closing
Summary
The software company provides details on the withholding tax and settlement process for its upcoming acquisition.
Windward Ltd. (LSE:WNWD) has provided an update on the withholding tax, settlement, and timetable for the recommended cash acquisition of the company by Octopus UK Bidco Limited. The update includes details on the tax ruling obtained from the Israel Tax Authority, the establishment of a tax portal to facilitate the process, and the revised timetable for completion of the acquisition.
Key Dates
18 March 2025
Completion of the Acquisition
1 April 2025
Computershare commences payment of Merger Consideration to Windward Shareholders
GENERAL UPDATE