Cogel Investments Limited, funds managed by AS BaltCap and Justas Versnickas made an offer to acquire a 73.71% stake in Xpediator Plc (AIM:XPD) from Shaun R Godfrey, Sandu Grigore and others for £43.9 million on December 20, 2022. As of April 6, 2023, Cogel Investments Limited, funds managed by AS BaltCap and Justas Versnickas have reached agreement on the terms to acquire an unknown stake in Xpediator Plc (AIM:XPD) from Shaun R Godfrey, Sandu Grigore and others. The offer has to be implemented by means of a Scheme of arrangement. The offer price per share is 44 pence. Prior to this transaction, Cogel Investments held stake in Xpediator. Pursuant to this transaction, Shaun R Godfrey and Sandu Grigore have given to the consortium non-binding letters of intent to accept, or vote in favour of, a firm offer in respect of a total of 38,470,261 Xpediator shares, representing 27.1% stake. The offer is subject to the satisfaction or waiver of a number of customary pre-conditions, including satisfactory completion of due diligence, approval of Board of Xpediator, Lithuania's Competition Council approval, the finalization and documentation of financing for the transaction. As of January 16, 2023 Discussions between Xpediator and the Consortium remain ongoing and, to allow further time for these discussions to continue Xpediator Board has requested. Such announcement must now be made by not later than February 14, 2023. As of February 14, 2023 Discussions between Xpediator and the Consortium remain ongoing and, to allow further time for these discussions to continue Xpediator Board has requested. Such announcement must now be made by not later than March 14, 2023. As of June 7, 2023, the transaction has been approved by Xpediator Plc shareholders and by the court. The Offer is currently expected to become Effective in the third quarter of 2023. As of June 22, 2023, effective date of the scheme will be July 7, 2023. As of June 22, 2023, the Long Stop Date has been extended to December 6, 2023.

David Foreman, Jamie Peel, James Hornigold and Dominic King of Zeus Capital Limited acted as financial and nominated adviser to Xpediator. Addleshaw Goddard LLP acted as legal advisor to Xpediator Plc (AIM:XPD). Travers Smith LLP acted as legal advisor to AS BaltCap and Cogel Investments Limited. Edmond de Rothschild (UK) Limited acted as financial advisor to AS BaltCap and Cogel Investments Limited. Tom Mercer, Darren Phelan, Roshni Mehra and Tim Rennie of Ashurst acted as a legal advisor to Rothschild & Co.

Cogel Investments Limited, funds managed by AS BaltCap and Justas Versnickas completed the acquisition of a 73.71% stake in Xpediator Plc (AIM:XPD) from Shaun R Godfrey, Sandu Grigore and others on July 7, 2023.