Update on Proposed Transaction
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The Company announces that the proposed acquisition of Redwood Financial Partners Limited and its wholly-owned subsidiary, Redwood Bank Limited, is continuing to progress and is now expected to complete in Q1 2025. Whilst progress has been subject to unexpected delays over the summer period, the Company is optimistic that the acquisition will be completed in accordance with the above-mentioned revised timeline.
Whilst there can be no certainty that the acquisition will complete and it remains subject to, amongst other things, formal terms being agreed and the completion of legal and financial due diligence and regulatory approvals, the directors of R8 remain confident of a successful outcome.
A further announcement will be made in due course.
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