Potential takeover on the cards for credit hire and legal services provider
Anexo, a specialist integrated credit hire and legal services provider, with offices in Leeds, Bolton and Liverpool, is in an “offer period” after responding to media speculation over a possible takeover approach.
Isle of Man-based investment group, DBAY Advisors, published a statement on the stock exchange late yesterday afternoon referring to the reports of its involvement in a possible offer.
It said itself, and Anexo major shareholders, executive chairman Alan Sellers and Samantha Moss, were considering a possible offer for the entire issued and to be issued ordinary shares of Anexo, save for those already owned by DBAY, Alan Sellers and Samantha Moss.
The statement said all three parties confirm they currently expect any offer to comprise entirely loan notes issued by a newly incorporated entity jointly controlled by funds managed or advised by DBAY, and Alan Sellers and Samantha Moss, or ordinary shares with an underlying economic interest in the newly incorporated entity making the proposal.
Under stock exchange rules, all three are required, by no later than 5pm on May 20, 2025, to either announce a firm intention to make an offer for Anexo or announce that they do not intend to make an offer.
This morning (April 23), Anexo said it has not received any proposal in respect of the possible offer from the potential offerors and advised that shareholders take no action at this time.
Anexo’s legal arm, Bond Turner, represents clients in motor cases, such as injuries, as well as ongoing class-action emissions claims against a range of motor manufacturers.
