HgCapital Trust PLC HGT Board note agreement on acquisition of Ideagen (0443Q)
June 24 2022 - 1:00AM
UK Regulatory
TIDMHGT
RNS Number : 0443Q
HgCapital Trust PLC
24 June 2022
The Board of HGT notes agreement on recommended cash
acquisition
of Ideagen by Bidco
On 9 May 2022, the boards of Bidco and Ideagen announced that
they had reached agreement on the terms of a recommended cash offer
pursuant to which Bidco, a newly-incorporated wholly-owned
subsidiary of funds managed by Hg Pooled Management ("Hg"), a
leading software and services investor, will acquire the entire
issued and to be issued ordinary share capital of Ideagen (the
"Acquisition"). The Acquisition is being implemented by means of a
Court-sanctioned scheme of arrangement under Part 26 of the
Companies Act 2006 (the "Scheme").
Ideagen announces that the Court Meeting to consider the Scheme
and the General Meeting to consider the Special Resolution relating
to the Acquisition were each held on 23 June 2022 and all
resolutions were approved by the requisite majorities, as set out
in further detail in the link below.
https://www.londonstockexchange.com/news-article/IDEA/results-of-court-meeting-and-general-meeting/15509858
For further details:
Hg
Tom Eckersley +44 (0)208 148 5401
HGT
Laura Dixon +44 (0)20 8396 0930
Brunswick
Azadeh Varzi +44 (0)207 404 5959
Hg@brunswickgroup.com
About HgCapital Trust plc
HgCapital Trust plc, whose shares are listed on the London Stock
Exchange (ticker: HGT.L), gives investors exposure through a liquid
vehicle to a portfolio of high-growth private companies in the
software and services sector. The selection of new investments and
creation of value in these businesses are managed by Hg, an
experienced and well-resourced private equity firm with a long-term
track record of delivering superior risk-adjusted returns for its
investors. For further details, please see
www.hgcapitaltrust.com.
The contents of the Hg, HgCapital Trust and Ideagen websites are
not incorporated into, and do not form part of, this
announcement.
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END
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