On 28 July, 2023, 2 Cheap Cars Group Limited (2CC) notified that two of their largest shareholders, the Sena Family Trust and E & Co Trustees, have agreed to a substantial shareholder transaction in which the Sena Family Trust will purchase all of the shares held by E & Co Trustees, representing approximately 30% of 2CC's total shares, for NZ$0.32 per share.
This would increase the Sena Family Trust's shareholding to approximately 76%.
The transaction is subject to approval from 2CC's shareholders, other than the two parties, and will be put to shareholders for approval at the Annual Meeting in late September 2023.
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