EML Payments Limited (ASX: EML) (S&P/ASX 200) is providing the following update regarding the pending acquisition of Sentenial Limited (“Sentenial”), announced to the market on 7 April 2021. The update is provided in the context of EML’s subsidiary’s (PFS Card Services Ireland Limited) dialogue with the Central Bank of Ireland referenced in EML’s announcement of 19 May 2021.
As previously advised to shareholders, the acquisition of Sentenial Limited is subject to two conditions precedent:
- Change of control approval from the Financial Conduct Authority (FCA) – United Kingdom;
- Change of control approval from the Autorité de Contrôle Prudentiel et de Résolution (ACPR) – France.
EML is pleased to announce that after market close on Friday 18 June 2021, the FCA provided its approval to the change of control.
EML has not yet received change of control approval from the ACPR, but is assisting the ACPR in its consideration of that request.
Accordingly, completion of the acquisition of Sentenial remains subject to that condition being satisfied. We presently expect the acquisition to complete in the first quarter of FY22 and will update the market further in due course.