On April 03, 2023, Pushpay Holdings Limited announced that, it held a special meeting of shareholders on March 3, 2023, to consider the original scheme of arrangement. At that meeting, the original scheme was not approved by shareholders and, accordingly, the original scheme was not implemented. Further, the Company stated that the bidder agreed to increase the consideration in respect of the primary shares from NZ$1.34 under the original scheme to NZ$1.42 per Company share under the Scheme.

The Consideration of NZ$1.42 per primary share represents an increase of 8 cents per primary share to the consideration offered under the original scheme. In addition, the bidder has entered into commitments with a number of the Company's largest New Zealand-based investors to vote in favor of the scheme at the increased consideration. these shareholders are Accident Compensation Corporation, New Zealand Superannuation Fund Nominees Limited, ANZ New Zealand Investments, Fisher Funds, Nikko Asset Management and Salt Funds Management.

As of 16 March 2023, these Shareholders held or controlled, in aggregate 18.6% of the total the Company shares and include all shareholders that previously publicly stated their intention to vote against the prior Scheme.