PayPoint plc (LSE:PAY) agreed to acquire Appreciate Group plc (AIM:APP) from Schroder Investment Management Limited and others for £82 million on November 7, 2022. PayPoint has entered into an amendment to its existing unsecured loan facility arrangements with effect from November 7, 2022, pursuant to which an additional term credit facility is being made available to PayPoint which, together with part of its existing revolving credit facility, will be used to finance the cash payable to Appreciate Group Shareholders under the terms of the Acquisition. As of December 2, 2022 court meeting will held on January 18, 2023 and long stop date is June 5, 2023. As of January 17, 2023, the FCA has given its approval to the transaction. It is expected that the Acquisition will become Effective on or before March 31, 2023. As of February 23, 2023, High Court of Justice has sanctioned the Scheme pursuant to which the Acquisition is being implemented and issued the Court Order and It is anticipated that the Effective Date will be February 28, 2023.

Simon Hardy, James Thomlinson and William Brown of Jefferies International Limited is acting as financial adviser and corporate broker to PayPoint in respect of the Acquisition. Pinsent Masons LLP is acting as legal adviser to PayPoint. Richard Crawley, Mark Harrison, Jamie Richards, Ben Cryer and Nikhil Varghese of Liberum is acting as lead financial adviser, nominated adviser and corporate broker to Appreciate Group. Angus MacPherson and Giuseppe Leonello of Herax Partners is acting as joint financial adviser and Rule 3 adviser to Appreciate Group. Addleshaw Goddard LLP is acting as legal adviser to Appreciate Group. Computershare Investor Services PLC acted as registrar to Appreciate Group plc. Ernst & Young Global Limited acted as due diligence provider to PayPoint plc (LSE:PAY).

PayPoint plc (LSE:PAY) completed the acquisition of Appreciate Group plc (AIM:APP) from Schroder Investment Management Limited and others on February 28, 2023..