Response to statement from StoneX

CAB Payments Holdings PLC

07 November 2024

 

7 November 2024

CAB Payments Holdings plc

('CAB Payments' or the 'Company')

Response to statement from StoneX

CAB Payments notes the announcement by StoneX Group Inc. ("StoneX") confirming that it does not intend to make an offer for the Company. As a result, StoneX is bound by the restrictions in Rule 2.8 of the Takeover Code.

The Board of CAB Payments is highly confident in the Company's strategy and is pleased with the strategic progress being made. This is expected to drive attractive, sustainable growth from 2025 onwards underpinned by four strategic pillars:

·      Network - strengthening the breadth and depth of network

·      Clients - deepen existing relationships, expand the client base

·      Platform - leverage the banking licence to accelerate FX and payments volume growth

·      Invest and innovate - disciplined capital management to drive growth

The Company will provide an update on its 2024 full-year trading performance in January 2025.

For further information, please contact:

CAB Payments Holdings plc [e-mail] Gaurav Patel, Head of Investor Relations Barclays Bank plc, acting through its Investment Bank (Financial Adviser and Joint Corporate Broker) [phone] Aamir Khan / James Woolf / Michael Hart / Anusuya Nayar Canaccord Genuity Limited (Joint Corporate Broker) [phone] Emma Gabriel / Harry Rees FTI Consulting LLP (PR Adviser) [phone]  Edward Bridges / Katie Bell

Important notices

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, whether pursuant to this announcement or otherwise.

The release, distribution or publication of this announcement in jurisdictions outside the United Kingdom may be restricted by laws or regulations of the relevant jurisdictions and therefore persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities laws or regulations of any such jurisdiction.

Disclaimer

Barclays Bank PLC, acting through its Investment Bank ('Barclays'), which is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for CAB Payments and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than CAB Payments for providing the protections afforded to clients of Barclays nor for providing advice in relation to any matter referred to in this announcement.

Canaccord Genuity Limited ('Canaccord Genuity'), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for CAB Payments and for no-one else in connection with the matters referred to in this announcement and will not be responsible to any person other than CAB Payments for providing the protections afforded to clients of Canaccord Genuity, nor for providing advice in relation to the matters referred to herein. Neither Canaccord Genuity nor any of its affiliates (nor any of its or their respective directors, officers, employees, representatives or agents) owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Canaccord Genuity in connection with the matters referred to in this announcement, or otherwise.

 

END