HgCapital Trust: Notes agreement on recommended cash acquisition of Ideagen
The Board of HGT notes agreement on recommended cash acquisition
of Ideagen by Bidco
On 9 May 2022, the boards of Bidco and Ideagen announced that they had reached agreement on the terms of a recommended cash offer pursuant to which Bidco, a newly-incorporated wholly-owned subsidiary of funds managed by Hg Pooled Management (“Hg”), a leading software and services investor, will acquire the entire issued and to be issued ordinary share capital of Ideagen (the “Acquisition”). The Acquisition is being implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the “Scheme”).
Ideagen announces that the Court Meeting to consider the Scheme and the General Meeting to consider the Special Resolution relating to the Acquisition were each held on 23 June 2022 and all resolutions were approved by the requisite majorities, as set out in further detail in the link below.
Below is a short animated clip highlighting the key points from the Year End Results