(Alliance News) - Appreciate Group PLC on Thursday said its acquisition by PayPoint PLC will become effective on February 28.
Hertfordshire, England-based payment services provider PayPoint agreed to buy Appreciate in a deal which valued the company at around GBP83 million. PayPoint will pay 33 pence in cash and 0.019 of a new PayPoint share for each Appreciate share.
Appreciate is a Merseyside, England-based multi-retailer redemption product provider
It said the High Court of Justice on Thursday sanctioned the scheme and issued the court order, from which an anticipated effective date of the transaction will be February 28, with Appreciate shares set for delisting from the AIM market of the London Stock Exchange on March 1.
Shares in Appreciate closed down 1.3% to 42.00 pence each in London on Thursday.
By Greg Rosenvinge, Alliance News reporter
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Paypoint (PAY)