Redflex Holdings Limited (Redflex) has entered into a Scheme Implementation Agreement with the NASDAQ listed company Verra Mobility Corporation (Verra Mobility) under which Verra Mobility will acquire 100% of the share capital of Redflex by way of a court-approved scheme of arrangement pursuant to Part 5.1 of the Corporations Act 2001 (Cth) (Scheme) in an all-cash offer. 

• If the Scheme is implemented, each Redflex shareholder will receive A$0.92 cash for every Redflex share held. 

• The cash-offer represents a 130% premium to Redflex’s closing share price on Thursday 21 January 2021 of A$0.40 per share.

• The Redflex board of directors unanimously considers the Scheme to be in the best interests of shareholders and recommends that shareholders vote in favour of the Scheme, subject to the independent expert concluding, and continuing to conclude, that the Scheme is in the best interests of shareholders and there being no superior proposal.

• Implementation of the Scheme is currently expected to occur in May 2021, subject to the satisfaction or, where applicable, waiver of the conditions precedent to the Scheme, including all necessary shareholder, court and regulatory approvals.

• Shareholders do not need to take any action at this time. The Scheme booklet is currently expected to be distributed to shareholders in April 2021, and the Scheme meeting is expected to be held in May 2021.

Good Luck to those that hold it ~  up 117% now~10:38am