Smoove PLC - Oxon, England-based software for housing market - Says discussions with Pexa Group Ltd regarding a possible cash takeover offer for Smoove have advanced, and a formal due diligence process has begun. The deadline by which Pexa is required to announce its intention to make a formal offer for Smoove has been extended to August 11.
Smoove had confirmed talks of a potential takeover offer by Pexa back in April 24. Sydney-listed Pexa which operates Pexa Exchange, a digital property settlements platform in Australia.
"There can be no certainty either that an offer will be made nor as to the terms of any offer, if made. A further announcement will be made as and when appropriate," Smoove says on Friday.
Current stock price: 39.00 pence, up 3.7%
12-month change: down 36%
By Will Neill, Alliance News reporter
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