Mad Paws Holdings Limited (ASX:MPA) Announces Court Approval for Rover Group Acquisition
Court Approval
The Supreme Court of New South Wales has ordered Mad Paws Holdings Limited (Mad Paws) to convene a Scheme Meeting for shareholders to vote on Rover Group, Inc.’s proposed acquisition of 100% of Mad Paws’ shares through a scheme of arrangement. Additionally, the Court approved the distribution of an explanatory Scheme Booklet to shareholders.
Scheme Meeting Details
The Scheme Meeting will take place at 10:30am Sydney time on Friday, 24 October 2025. Shareholders can attend in person at Level 5, 126 Phillip Street, Sydney, or participate online via the provided Zoom link. Proxy forms must be submitted by 10:30am on Wednesday, 22 October 2025.
Independent Expert’s Report
The Scheme Booklet will include a report from Stantons Corporate Finance Pty Ltd, the independent expert, who has determined that the Scheme is fair and in the best interest of Mad Paws shareholders. The proposed consideration of $0.14 per share exceeds the expert’s valuation range of $0.0833 to $0.1097, with a preferred value of $0.0965.
Board and Major Shareholder Support
Mad Paws’ Board unanimously recommends that shareholders vote in favour of the Scheme. Additionally, major shareholders Bombora Special Investments Growth Fund and former Executive Director Howard Humphreys hold 22.91% of the shares and have committed to supporting the acquisition.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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