Civica UK Limited entered into an agreement to acquire Thelma-EU Ltd. from ICS Global Limited (ASX:ICS) for £12.4 million on December 18, 2020. It is expected that ICS Global will receive after transaction costs to be equivalent to approximately AUD 21.3 million and anticipate that ICS Global will incur costs of approximately AUD 1.1 million including a fee to Numis Securities. Post completion, Thelma-EU will become part of Civica UK Limited. The transaction is subject to shareholders approval of ICS Global and that Thelma-EU has retained customers representing at least 90% of its revenue as at October 31, 2020. An extraordinary general meeting is to be held on February 19, 2021 for shareholders of ICS Global. The Board of ICS Global unanimously recommends the proposed sale of Thelma-EU for approval by shareholders. The transaction is expected to close by February 28, 2021. Numis Securities Limited acted as financial advisor and introducer agent to ICS Global. Malcolm MacDougall of Stephenson Harwood LLP acted as legal advisor to Civica UK Limited in the transaction. Civica UK Limited completed the acquisition of Thelma-EU Ltd. from ICS Global Limited (ASX:ICS) for £12.8 million on February 24, 2021. The ICS Global Limited has received the cash consideration per the sale agreement as previously announced to shareholders. ICS Global Limited intends to distribute a significant proportion of the sale proceeds to its shareholders.