Skedda Pty Ltd made a proposal to acquire Smartspace Software plc (AIM:SMRT) from J O Hambro Capital Management Group Limited and others for £23.7 million on December 12, 2023. Under the terms of agreement, Skedda is acquiring Smartspace for a price of 82 pence per SmartSpace ordinary share. SmartSpace's largest shareholder, JO Hambro Capital Management Limited, has indicated, on a non-binding basis, its support for the Proposal with regard to the 2,405,000 SmartSpace shares in which it is interested (representing approximately 8.3% of SmartSpace's issued share capital). The Proposal values the entire issued and to be issued share capital of SmartSpace at £25.0 million. Skedda reserves the right to vary the form and / or mix of the offer consideration and / or introduce other forms of consideration. Skedda also reserves the right to make an offer on less favourable terms than the Proposal: (i) with the consent of the Board; (ii) if a third party announces a possible offer or firm intention to make an offer for SmartSpace at a lower price; or (iii) if SmartSpace announces a Rule 9 waiver pursuant to the Code or a reverse takeover. Skedda reserves the right to reduce the offer consideration by the amount of any dividend or any other distribution or return of value to shareholders which is paid or becomes payable by SmartSpace to its shareholders following the date of this announcement. As of December 13, 2023, The Board of SmartSpace is considering Skedda's proposal with its advisers and the Company is continuing to consult with its major shareholders. A further announcement will be made if and when appropriate. Shareholders are urged to take no action at this time. As of January 9, 2024, SmartSpace Software board has consented to, an extension to the deadline by which Skedda is required either to announce a firm intention to make an offer for SmartSpace or to announce that it does not intend to make an offer, until on February 6, 2024. As of January 22, 2024, Sign In Solutions Inc. made a proposal to acquire Smartspace Software for £26 million. As of February 6, 2024, SmartSpace Software board has consented to, an extension to the deadline by which Skedda is required either to announce a firm intention to make an offer for SmartSpace or to announce that it does not intend to make an offer, until on February 19, 2024.

The Proposal is subject to the satisfaction or waiver of pre-conditions, including customary due diligence. The SmartSpace Board has not been willing to date to provide their support for the Proposal. There can, accordingly, be no certainty that any firm offer for SmartSpace will be made by Skedda. Marc Milmo, Henrik Persson and George Lawson of Cavendish Capital Markets Limited acted as financial advisor to Skedda in the transaction.

Skedda Pty Ltd cancelled the acquisition of Smartspace Software plc (AIM:SMRT) from J O Hambro Capital Management Group Limited and others on February 19, 2024. The acquisition got cancelled because Skedda Pty Ltd does not intend to make an offer for SmartSpace under Rule 2.7 of the Code.