Shareholders of Belvoir and The Property Franchise Group (TPFG) have been invited to a presentation this week where they can ask questions about the proposed merger of the brands.
TPFG and Belvoir announced last week that their boards have approved a merger, subject to shareholder backing.
On 18 January 2024 at 430pm, TPFG chief executive Gareth Samples and Dorian Gonsalves, chief executive of Belvoir, will provide a presentation outlining the benefits of merging.
The presentation is open to all shareholders of the brands and questions can be submitted in advance.
Shareholders can register at: https://www.investormeetcompany.com/belvoir-group-plc/register
As part of the deal, TPFG would takeover the share capital of Belvoir.
The deal values each Belvoir share at approximately 277.4p, comprising an equity value of Belvoir's entire issued ordinary share capital of approximately £103.5 m and TPFG's entire issued ordinary share capital at £111m.
Upon completion of the merger, Belvoir Shareholders will hold approximately 48.25% and TPFG shareholders will hold approximately 51.75% of the enlarged issued share capital of TPFG.
The combined group would have a market capitalisation of approximately £214.m and would mean both brands can combine their expertise and resources.
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