Smoove plc (AIM:SMV) said discussions with PEXA Group Limited (ASX:PXA) regarding a possible cash takeover offer for Smoove have advanced, and a formal due diligence process has begun. The deadline by which Pexa is required to announce its intention to make a formal offer for Smoove has been extended to August 11. Smoove had confirmed talks of a potential takeover offer by Pexa back in April 24.

Sydney-listed Pexa which operates Pexa Exchange, a digital property settlements platform in Australia. "There can be no certainty either that an offer will be made nor as to the terms of any offer, if made. A further announcement will be made as and when appropriate," Smoove said on July 14, 2023.