Smartpay has announced that it has entered into an exclusivity agreement with an international strategic party, following the receipt of a revised proposal to acquire the company.
The revised proposal, which was received on April 25, 2025, offered to acquire 100% of Smartpay's issued ordinary shares for a price of $1.20 per share, comprising 100% cash consideration.
The proposal is conditional and non-binding, and is subject to the grant of a limited period of exclusivity, as well as the satisfactory completion of due diligence and the execution of a scheme implementation agreement.
The exclusivity agreement will provide exclusivity to the other party until June 9, 2025.
During the period from May 2 to May 25, Smartpay has committed not to engage with any competing proposals, but may do so for potentially superior proposals from May 26 to June 9.
Smartpay said there is no certainty that the revised proposal will result in a definitive transaction.
Shareholders do not need to take any action at this stage, and Smartpay will continue to keep them informed.
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