Pushpay Holdings Limited (NZSX:PPH, ASX:PPH) has received proxy votes from 913,091,971 shares, representing 80% of the total number of Pushpay shares on issue, for the resolution to approve the scheme of arrangement with Pegasus Bidco Limited (the ‘Bidder’).
Of these votes, 67% were in favour of the Scheme, however this is not enough to receive the required 75% majority of the Second Interest Class, therefore the resolution is not expected to pass.
The Scheme Meeting will still be held online and in-person on Friday, 3 March 2023 to allow shareholders the opportunity to cast their vote.
If the Scheme is not approved, either Pushpay or the Bidder can terminate the Scheme Implementation Agreement and the Scheme will not proceed.
See more
