Class shareholders approve HUB24 acquisition

The resolution to approve the scheme of arrangement under which HUB24 will acquire all shares in Class has been approved by Class shareholders.

Under the terms of a deal, HUB24 would acquire all of the shares in Class held by its shareholders, with eligible shareholders to receive one HUB24 share for every 11 Class shares and cash consideration of 12.5 cents for every Class share held at the scheme record date.

In the announcement made to the Australian Securities Exchange (ASX) earlier today, Class chairman, Matthew Quinn, said the board unanimously recommended that Class shareholders to vote in favour of the scheme, in the absence of other superior proposals.

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Source: Class shareholders approve HUB24 acquisition | Money Management