Smartpay has announced that the High Court has granted final orders approving the scheme of arrangement with Shift4.
Under the scheme, Shift4 will acquire all of Smartpay's ordinary shares.
As a result, Smartpay has applied to the NZX and ASX for the suspension of trading in its shares and for delisting, pending the satisfaction of the remaining conditions and implementation of the scheme.
The company has provided an intended timetable, with the trading halt date set for Oct 29, the record date for determining entitlements on Oct 31, and the implementation date on Nov 4.
Holders of Smartpay shares on the scheme record date will receive NZ$1.20 in cash for each share held.
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