Molten Ventures Plc (LSE : GROW) reached an agreement to acquire remaining 98.7% stake in Forward Partners Group plc (AIM:FWD) from Forward Partners Directors; consisting of Jonathan McKay, Nic Brisbourne and Chris Smith, BlackRock Investment Management (UK) Limited, Neon One Limited, Neil Hutchinson and others for £41.3 million on November 27, 2023. Under the terms of the acquisition, for each 9 Forward Partners? shares held, Forward Partners? shareholders will be entitled to receive 1 New Molten share. The transaction is to be effected by means of a Scheme of Arrangement.

Molten has received irrevocable undertakings from the Forward Partners Directors, BlackRock and Neil Hutchinson and certain other Forward Partners shareholders in respect of, in aggregate, 111,655,543 shares representing approximately 82.95% of share capital. The scheme has been unanimously approved by the Forward Partners Directors. The scheme is subject to Forward Partners? shareholders approval at the court and general meeting, sanction by court, the applicable requirements of the Companies Act, the Court, the Takeover Code, the Panel, the Listing Rules, the Irish Listing Rules, the AIM Rules, the FCA, the Central Bank of Ireland, the London Stock Exchange and Euronext Dublin. The scheme is expected to become effective in February 2024. On 17 January 2024, the Scheme was approved by the requisite majorities of Scheme Voting Shareholders at the Court Meeting and the Resolution relating to the implementation of the Scheme was approved by the requisite majority of Forward Shareholders at the General Meeting. On 12 March 2024, Forward announced that the Court had sanctioned the Scheme at the Court Sanction Hearing.

Simon Willis, Jamie Loughborough, Iqra Amin and George De Felice of Numis Securities Limited acted as financial advisor and Don Harrington, Dearbhla Gallagher and Will Hall of Goodbody acted as joint financial adviser to Molten. Chris Clarke, Mark Harrison, Lauren Kettle, Miquela Bezuidenhoudt and Anake Singh of Liberum acted as independent financial advisor to Forward Partners. Gowling WLG (UK) LLP is retained as legal adviser to Molten and Travers Smith LLP is retained as legal adviser to Forward Partners in connection with the acquisition. Equiniti acted as registrar to Forward Partners.

Molten Ventures Plc (LSE : GROW) completed the acquisition of remaining 98.7% stake in Forward Partners Group plc (AIM:FWD) from Forward Partners Directors; consisting of Jonathan McKay, Nic Brisbourne and Chris Smith, BlackRock Investment Management (UK) Limited, Neon One Limited, Neil Hutchinson and others on March 14, 2024.