STM Group plc (GB:STM) has released an update.
STM Group PLC announced that it has agreed to a cash acquisition by Jambo SRC Limited, to be completed through a court-sanctioned scheme of arrangement. The original acquisition agreement, which received overwhelming shareholder approval, has faced delays in obtaining necessary regulatory approvals, prompting an extension of the closing deadline to August 30, 2024. STM Group remains confident that the Gibraltar Financial Services Commission and Malta Financial Services Authority will grant the required approvals for the acquisition to proceed.
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