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HgCapital Trust PLC (HGT) noted the recommended cash acquisition of Ideagen by Bidco, a wholly-owned subsidiary of funds managed by Hg Pooled Management. This agreement was originally announced by the boards of Bidco and Ideagen on 9 May 2022. On 23 June 2022, Ideagen held Court and General Meetings where all resolutions related to the acquisition's scheme of arrangement were approved by the requisite majorities.
| Date | 24 Jun 2022 |
| Time | 07:00:04 |
| Category | Acquisitions and alliances |
| ID | 0443Q |
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.
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
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.