2nd Aug 2021 11:14
ThinkSmart Ltd - Australian digital payments platform - Notes announcement by Square Inc of plans for an all-share acquisition of Afterpay Ltd for AUD39 billion, about GBP21 billion. The acquisition is expected to complete in the first quarter of 2022. Under the agreement that ThinkSmart has with Afterpay, relating to the sale of ThinkSmart's remaining holding in Clearpay Finance Ltd, a change of control of Afterpay gives Afterpay the right to exercise its call option to purchase the remaining shares in Clearpay from ThinkSmart. Afterpay may only elect to pay the exercise price in cash if its shares are no longer exchange traded. ThinkSmart's 10% holding in Clearpay UK was last valued at GBP106.6 million at the end of 2020.
Current stock price: 85.00 pence, up 39% on Monday
Year-to-date change: up 16%
By Evelina Grecenko; [email protected]
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