Selfwealth shareholders back Syfe takeover | Australian Markets
Shareholders in digital investment platform, Selfwealth have voted overwhelmingly to just accept its acquisition by Syfe in a transaction valued at $65 million.
Selfwealth introduced to the Australian Securities Exchange (ASX) that 99.70% of votes solid shareholders had been in favour of the proposed acquisition.
Syfe later issued a assertion saying that subject to all remaining situations being met or waived, together with needed court docket approvals, the acquisition was anticipated to be accomplished by 7 May.
It stated this can end in Selfwealth being delisted from the ASX to start privately trading as Selfwealth by Syfe, with operations persevering with to be headquartered in Melbourne. Group Chief Operating Officer and Head of International Operations, Samantha Horton, will lead the combination on behalf of Syfe.
Commenting on the transaction, Syfe Founder and CEO, Dhruv Arora, stated the acquisition aligns with Syfe’s business goals to grow its presence and investor base in Australia.
“Selfwealth’s strong user base and credibility in the Australian market make it a natural strategic fit for Syfe. The acquisition will provide a seamless transition for customers, unlocking access to Syfe’s broader suite of investment products and technology-driven solutions over time, while retaining everything that Selfwealth customers presently enjoy,” Arora stated.
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