RE: Optimistic20 Dec 2024 10:53
86KB
Taken from interim results.
29 November 2023, the Company entered into an option to purchase agreement to acquire 60% of the share capital of EasySend Ltd ("EasySend"), a Northern Ireland incorporated company operating a cross-border payments business. EasySend is a an FCA approved API, conducting cross-border payment services. Completion of the acquisition of EasySend is conditional, inter alia, on final due diligence, the entering into of definitive sale and purchase documentation and also on GST obtaining approval from the FCA for the change of control of EasySend, a regulated entity. Whilst the formally agreed period for entering into a definitive sale and purchase agreement ended on 30 November 2024, the parties continue to work towards the completion of the acquisition. In particular, EasySend, in consultation with GST, has been working on completing its development activities in Poland. Both parties wish to see this work completed before completion of the acquisition. The Group's acquisition of EasySend is therefore currently expected to complete in Q1 2025.