**Summary**
CAB Payments Holdings PLC has issued a response to the firm offer announcement by the Helios Consortium, which intends to acquire the entire issued and to-be-issued share capital of CAB Payments (excluding shares already owned by Helios Fund III). The offer is priced at USD 1.15 (GBP 0.8524) per share in cash, with an alternative option of unlisted, illiquid, non-voting shares. The Independent Board of CAB Payments (excluding directors Henry Obi and Nitin Kaul) considers the offer highly opportunistic and undervalues the company, representing only an 18% premium over the undisturbed share price of GBP 0.72 on January 30, 2026.
The Independent Board highlights the significant improvement in CAB Payments trading performance, as reported in the January 15, 2026 update, and plans to release full-year 2025 results and strategic outlook on March 5, 2026. They remain confident in the companys long-term value creation potential. The Board advises shareholders to take no action regarding the offer at this time.
The Helios Consortium comprises Helios Investors V, L.P., Helios Investors V (Mauritius) L.P., Helios Fairfax Partners Corporation, and is supported by Helios Fund III. CAB Payments is supported by financial and legal advisors, including Barclays, Investec, Shore Capital, Fenchurch Advisory Partners, and Allen & Overy Shearman Sterling LLP.
The announcement includes important notices regarding regulatory compliance, disclaimers from advisors, and disclosure requirements under the Takeover Code, emphasizing transparency and adherence to legal obligations. Shareholders are directed to the companys website for further information.