Pushpay Holdings Limited has been granted supplementary orders by the High Court in respect of the revised Scheme of Arrangement proposed by Pegasus Bidco Limited, a company associated with the Sixth Street and BGH Capital consortium.
The revised price of NZ$1.42 per share for all shareholders (excluding those associated with the Bidder and the Specified Shares) is a material 8-cents per share increase to the consideration offered under the prior scheme proposal.
Pushpay's Non-Conflicted Directors unanimously recommend that shareholders vote in favour of the revised Scheme, and have undertaken to vote all of their own shares in favour of the revised Scheme, in the absence of a superior proposal.
The revised Scheme consideration is near the midpoint of the Independent Adviser’s assessed value range for Pushpay shares of NZ$1.33 to NZ$1.53 per share.
A new special meeting of shareholders to vote on the revised Scheme will be held at 10:00am on 27 April 2023 (NZT).
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