Sargon moves closer on Decimal transaction
Sargon Capital has taken another step towards completing its acquisition of publicly-listed financial services software provider, Decimal with the Federal Court having made orders approving the issue of scheme booklet ahead of a meeting of shareholders.
Decimal announced the development to the Australian Securities Exchange (ASX) with shareholders expected to vote on the transaction on Thursday, 6 December.
The Decimal board has unanimously recommended that all shareholders vote in favour of the scheme, noting that each Decimal director intends to vote in favour of the scheme with respect to any shares they hold or control in the absence of a superior proposal.
Sargon’s acquisition of Decimal, when combined with earlier transactions involving IOOF’s corporate trust business and Madison Financial Group, gives the company strategic reach into the superannuation and wealth management arenas in Australia.
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