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Highlights:
- Link Administration has requested for a trading halt on ASX from today onwards until the company shares an update on its Dye & Durham scheme of arrangement.
- Normal trading of Link shares is expected to begin on 14 September 2022.
- Recently, Link has secured approval from ACCC regarding the proposed acquisition of Link Group by Dye and Durham.
Financial ownership data administrator Link Administration Holdings Limited (ASX:LNK) shares are put under trading halt on ASX from Monday morning (12 September 2022). The securities of the company will remain under trading halt until it shares an announcement to the market, or on 14 September 2022.
Link has requested ASX to put its shares under trading halt unless it releases an announcement to the market related to the regulatory approvals involved with the Dye & Durham Corporation arrangement.
Meanwhile, the shares of Link were spotted trading last at AU$4.480 per shares as of Friday (9 September 2022).
In last one year, Link’s share price has dropped by 0.67% on ASX. Furthermore, on a YTD-basis, Link’s share price fell over 19% on ASX (as of 4:10 PM AEST of 9 September 2022).
What else has happened within Link recently?
On 8 September 2022, Link announced that the Australian Competition and Consumer Commission (ACCC) confirmed that it won’t oppose the proposed acquisition of Link Group by Dye & Durham Corporation. However, in return, ACCC had accepted a court-enforceable undertaking from Dye & Durham to sell off its existing business in Australia.
Link Group has also shared that it has secured approval from the Central Bank of Ireland regarding the transaction. Furthermore, the company has received written notification from the ACCC that the organisation will not interfere in the transaction and approval from the CBI as a condition precedent to the scheme of arrangement.
The announcement also revealed that Dye & Durham would acquire 42.77% shareholding in the company owned by Link, PEXA Group Ltd (ASX:PXA) through the acquisition of Link.
About Dye & Durham:
Dye & Durham is popularly known for being an international provider of cloud-based software and technology solutions to legal and business professionals, including lawyers and conveyancers. Dye & Durham’s core products and services relevant to the proposed acquisition of Link Administration include information and search broking services, conveyancing and legal practice management software, and manual property settlement services.
