LONDON (Alliance News) - RhythmOne PLC said its shareholders voted in favour of the Taptica International Ltd takeover in a general meeting held on Friday.
RhythmOne shareholders voted overwhelmingly in favour of the deal, with 92% of shareholders voting to pass the resolution.
The next hurdle facing the deal is a sanction of the scheme by the Court on Friday next week. The deal is expected to be completed on April 2.
RhythmOne closed flat Friday at 175.00 pence each. Taptica ended the session 0.1% lower at 202.25p.
In February, video advertising firm Taptica agreed a GBP135 million takeover of peer RhythmOne in an all-share merger deal to create a combined company worth about GBP300 million.
RhythmOne shareholders will receive 28 Taptica shares for every 33 RhythmOne shares held. The agreement values RhythmOne at GBP135 million and will see RhythmOne shareholders take a 49.9% stake in the combined firm with the remainder held by Taptica shareholders.