SMP.ASX: Scheme Update - Overseas Investment Office consent granted

Scheme Update - Overseas Investment Office consent granted

Stock	Smartpay Holdings Ltd (SMP.ASX)
Release Time	4 Aug 2025, 1:05 p.m.
Price Sensitive	Yes

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Smartpay Receives Overseas Investment Office Consent for Scheme

Key Points

Smartpay has obtained Overseas Investment Office consent for proposed Shift4 acquisition
Scheme remains subject to shareholder approval and other customary conditions
Scheme implementation agreement announced on 23 June 2025

Full Summary

On 23 June 2025, Smartpay Holdings Limited (NZX:SPY, ASX:SMP) announced it had entered into a scheme implementation agreement for a proposed scheme of arrangement under which Shift4 Payments, LLC (or its wholly owned subsidiary) would acquire all of the shares in Smartpay for NZ$1.20 per share in cash. The scheme was subject to various conditions, including the need for Shift4 to obtain all consents required under the Overseas Investment Act 2005 and the Overseas Investment Regulations 2005 (the OIO Condition). Smartpay has now been advised by Shift4 that the OIO Consent has been obtained and therefore the OIO Condition has been satisfied. The scheme remains subject to various other conditions, including the approval of Smartpay shareholders, there being no 'material adverse change' and other customary conditions as detailed in the scheme implementation agreement.