**Summary**
Renold PLC has announced that the recommended cash acquisition by MPE Bid Co (Bidco), a corporation controlled by funds managed by MPE Mgt. Co., LLC, has received the necessary regulatory approvals. The acquisition, valued at £1.07 per unit of Renold Preference Stock, is being implemented through a Court-sanctioned scheme of arrangement under the Companies Act. The scheme was approved by the requisite majority of Renold shareholders at the Court Meeting and General Meeting on 28 July 2025.
Key updates include
1. **Regulatory Approval**All necessary regulatory approvals and clearances have been obtained, satisfying the conditions outlined in the Scheme Document.
2. **Updated Timetable**The Court Hearing is scheduled for 27 October 2025, with the Scheme expected to become effective on 29 October 2025. The last day for dealings in Renold shares is 28 October 2025, and shares will be suspended from trading on AIM by 7:30 a.m. on 29 October 2025.
3. **Transfer of Shares**Renold Ordinary Shares will be transferred to Endurance PT Technology Buyer Corporation, a member of the Wider Bidco Group, on the Effective Date.
4. **Payment Timeline**Cheques and CREST account credits for the acquisition consideration are expected to be dispatched by 12 November 2025.
5. **Long Stop Date**The la<mark style="background-color:yellow">test</mark> date for the Scheme to become effective is 13 February 2026, unless extended by agreement.
The announcement also includes important notices regarding legal, tax, and regulatory considerations, particularly for overseas shareholders and US investors. Shareholders subject to sanctions are excluded from the acquisition and will not receive any cash consideration. The document emphasizes that it does not constitute financial, legal, or tax advice and encourages shareholders to consult independent professionals.
**Key Dates**
**Court Hearing**27 October 2025
**Effective Date of the Scheme**29 October 2025
**Dispatch of Payments**By 12 November 2025
**Long Stop Date**13 February 2026
For further details, shareholders are directed to the Renold website and the Scheme Document.