LONDON: The High Court of Justice in England and Wales has sanctioned the proposed acquisition of Trakm8 Holdings plc by Brillian UK Limited, clearing the way for the deal to become effective next week.
The acquisition, first announced on May 1, 2025, involves Brillian UK—a company within the Omegro portfolio and wholly owned indirectly by Canada-based Constellation Software Inc.—purchasing the entire issued and to-be-issued share capital of Trakm8. The transaction is being carried out through a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.
Trakm8 shareholders approved the scheme on June 19, 2025, during both the Court Meeting and the General Meeting.
Key Dates and Next Steps:
- The scheme is expected to become effective on July 9, 2025, following delivery of the court order to the Registrar of Companies.
- Trading in Trakm8 shares on the AIM market is set to be suspended at 7:30 a.m. on July 9.
- Cancellation of Trakm8’s AIM listing is scheduled for 7:00 a.m. on July 10, subject to the scheme becoming effective.
- Share certificates will cease to be valid on the effective date, and CREST-held entitlements will be cancelled.
As of this announcement, Trakm8 has 49,975,002 ordinary shares of 1 pence each in issue (ISIN: GB00B0P1RP10). The company also has £2.7 million in outstanding convertible loan notes, which could convert into an additional 33,277,430 ordinary shares.