FinTechFunding

ICS Global: Advises shareholders to knock back DWY takeover

ICS Global Advises shareholders to knock back DWY takeover

  • ICS Global (ICS) asks shareholders to reject an off-market takeover bid by Dawney & Co’s subsidiary, DWY
  • ICS says the offer of 20 cents each “materially undervalues” ICS shares and would see the company only receive $2.12 million
  • ICS currently has a cash balance of $3.35 million, which would require shares to be sold at a minimum of 32 cents each to match the price
  • The company says the “opportunistic” offer is taking “advantage” of its suspension from trading, a position its been in since June 21, 2021
  • ICS shares last traded at 57.5 cents
Previous article
ECS Botanics: Secures $9.9m cannabis supply agreement
Next article
Comet Resources: Buys more time to meet Mt Margaret acquisition conditions
Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

You May Also Like

FinTech

WealthCom Secures $65M Funding Boost for Expansion

The investment aims to enhance service offerings and accelerate growth. Highlights: WealthCom raises $65 million in Series B funding.New...
FinTech

Financial Health Tools Could Unlock $5B in SME Lending

CFIT report highlights the potential of financial hygiene tools for small businesses. Highlights: CFIT report suggests financial health tools...
FinTech

Coinbase Strengthens UK Crypto Borrowing Options for Customers

Users can now borrow against their cryptocurrency holdings in the UK. Highlights: Coinbase now allows UK customers to borrow...
FinTech

Chase UK Appoints Monzo’s Malani as CEO, Strengthening Leadership Team

Former Monzo executive will lead Chase UK's growth strategy. Highlights: Chase UK appoints Monzo veteran Malani as CEO.This move...