Response to Helios Consortium Announcement
CAB Payments Holdings PLC has responded to the Helios Consortium's announcement, noting that the consortium has not adjusted its offer despite the company's strong interim results for the half year ended 30 June 2026, which showed 31% total income growth to approximately £68m, 82% Adjusted EBITDA growth to approximately £24m, and 157% Adjusted EPS growth to 5.4 pence. The Independent Board maintains its view that the Helios offer fundamentally undervalues CAB Payments and its future prospects, especially considering the declaration of an inaugural interim dividend of 2.1 pence per share. Shareholders are advised to take no action at this time.
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On 6 August 2026, the Company announced its interim results for the half year ended 30 June 2026. Having previously indicated that the Board was considering a broad-based strategy for delivering total shareholder returns, the Company also announced the introduction of a capital management framework and the declaration of an inaugural interim dividend of 2.1 pence per CAB Payments share reflecting the Company's strong surplus capital position, confidence in its future prospects and commitment to delivering attractive returns for all shareholders through a combination of growth and shareholder distributions.
The Independent Board of CAB Payments[1] notes the announcement made by the Helios Consortium[2] on 13 August 2026 and notes that the Helios Consortium has chosen not to reduce its offer to reflect the interim dividend. The Helios offer nonetheless remains unchanged notwithstanding the Company's interim results which demonstrated the continued strong progress being made by CAB Payments and the strength of its growth trajectory, delivering on a year-on-year basis total income growth of 31% to c.£68m, Adjusted EBITDA growth of 82% to c.£24m, Adjusted EPS growth of 157% to 5.4 pence, and Emerging Market FX and Payment volume growth of 21%.
The Independent Board has consistently made clear that it would consider any proposal that appropriately reflects the value of CAB Payments and its future prospects. The Helios Consortium has had the opportunity to improve the terms of its offer but has chosen not to do so. Accordingly, the Independent Board remains of the view that the Helios offer is highly opportunistic and continues to fundamentally undervalue CAB Payments and its future prospects.
The Independent Board remains confident in the Company's strategy and its ability to deliver long-term value for shareholders and will continue to focus on the execution of that strategy going forward.
CAB Payments shareholders are advised to take no action at this time.
Allen Overy Shearman Sterling LLP is acting as legal adviser to CAB Payments.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.