PSC Insurance Group Limited (ASX:PSI) entered into a binding scheme implementation deed to acquire Ensurance Limited (ASX:ENA) for AUD 25.2 million on August 8, 2023. As per the transaction, purchase price to be the greater of AUD 25.2 million and 5 million PSC shares and to be satisfied by way of the issue of 5 million PSC Insurance Group Limited shares with any difference between the value of those shares and the purchase price of AUD 25.2 million to be paid in cash. The transaction is approved by board of directors of Ensurance Limited and is subject to shareholder's approval of Ensurance Limited and court approval. The Supreme Court of Western Australia has ordered that a meeting of ENA Shareholders be convened on November 2, 2023. The transaction is expected to complete on November 17, 2023. The transaction was approved by the Supreme Court of Western Australia. Maddocks Lawyers acted as legal advisor to PSC Insurance Group Limited and Steinepreis Paganin acted as legal advisor to Ensurance Limited. Link Market Services Limited served as Transfer agent to PSC Insurance Group and William Buck Pty Ltd acted as Accountant while Computershare Investor Services Pty Limited as Transfer agent to Ensurance Limited.

PSC Insurance Group Limited (ASX:PSI) completed the acquisition of Ensurance Limited (ASX:ENA) on November 17, 2023.