Iress update on OneVue acquisition 


Andrew Walsh

As announced on 1 June 2020, Iress (IRE.ASX) entered into a Scheme Implementation Agreement with OneVue Holdings Limited (OVH.ASX) (“OneVue”) under which Iress would acquire 100% of the issued shares of OneVue (the “Scheme”).

Today, the shareholders of OneVue met to vote on the Scheme. The resolution to approve the Scheme was approved by the requisite number of OneVue shareholders. The Scheme remains subject to Court approval at a hearing which has been set for Wednesday, 28 October 2020. If the Scheme is approved at this hearing, the Scheme will proceed with the implementation date currently scheduled for 6 November 2020 at which time OneVue shareholders will receive the Scheme consideration of 43c cash per share.

Iress chief executive, , said: “We are pleased with the outcome of the OneVue Scheme meeting today and look forward to working with OneVue management to complete the transaction over the coming months. We would like to take this opportunity to thank OneVue shareholders, directors and management for their commitment to pursuing this outcome.

“This is a strong opportunity to combine OneVue’s strength and position in administration of managed funds, superannuation and investment, with Iress’ strength in software and data, which provides the combined entity with the opportunity to drive innovation through technology.”

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