21st Mar 2019 17:32
LONDON (Alliance News) - Taptica International Ltd shareholders voted in favour of the RhythmOne PLC acquisition in an extraordinary general meeting held on Thursday.
Taptica shareholders voted overwhelmingly in favour of the deal, with 99.99% of shareholders voting to pass the resolution.
The next hurdle facing the deal is a general meeting for RhythmOne shareholders Friday at 1015 GMT. The deal is expected to be completed on April 2.
Taptica closed up 6.6% Thursday at 202.50 pence each. RhythmOne ended the session 6.1% higher at 175.00p.
In February, video advertising firm Taptica agreed a GBP135 million takeover of peer RhythmOne in an all-share merger deal to create a combined company worth about GBP300 million.
RhythmOne shareholders will receive 28 Taptica shares for every 33 RhythmOne shares held. The agreement values RhythmOne at GBP135 million and will see RhythmOne shareholders take a 49.9% stake in the combined firm with the remainder held by Taptica shareholders.
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