Jan 31, 2021 / 10:30PM GMT
Vivek Bhatia - Link Administration Holdings Limited - MD & CEO
Thank you. Good morning, everyone, and thank you for joining us on the call at short notice. Unbelievably, it is the first of February. And as you may have seen, we made an announcement this morning, which has had 2 components on the Pepper European Servicing acquisition that was announced in January 2020 and an update on PEXA. So I will just quickly run through some of the key messages on the Pepper European Servicing acquisition firstly and then talk about PEXA.
So in January 2020, we announced the acquisition that we had entered into a binding agreement to acquire PES from the Pepper Group and the completion was subject to regulatory approvals and commercial conditions, and that a long stop date was there to be satisfied for the completion of the transaction, and that happened to fall over the weekend. The transaction has not completed pending approvals. And as such, over the weekend, the Link Group Board has exercised its right to terminate the share purchase agreement and not to proceed with the transaction. Since January of
Link Administration Holdings Ltd Acquisition of Pepper European Servicing and Property Exchange Australia Update Call Transcript
Feb 01, 2021
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