REG - CPPGroup PLC - Update regarding the Disposal of CPP India

CPPGroupAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250915:nRSO2333Za&default-theme=true

RNS Number : 2333Z  CPPGroup PLC  15 September 2025

15 September 2025

 

CPPGroup Plc

("CPP Group", "Group", or the "Company")

 

Update regarding the Disposal of CPP India

Further to previous announcements regarding the proposed disposal of the
entire issued share capital of CPP India (the "Disposal"), CPP Group confirms
that it has agreed to an amended and restated sale and purchase agreement (the
"Amended SPA") between (i) the Buyers (ii) the Sellers and (iii) CPP India
relating to the Disposal.

Pursuant to the Amended SPA the Company has agreed to the following revisions
to the terms of the consideration payable by the Buyers in respect of the
Disposal:

·    The consideration payable to the Sellers from the Buyers is the
Indian Rupees equivalent of US$20.0 million (c. £14.5 million(1)) (rather
than US$21.0 million previously agreed) (the "Revised Purchase Price").

·    Of the Revised Purchase Price, US$15.0 million (c. £10.9
million(1)) (rather than US$15.8 million previously agreed) is payable on
Completion with the remaining balance (of up to US$5.0 million (c. £3.6
million(1)), rather than up to US$5.2 million previously agreed) payable in
two equal instalments (of up to US$2.5 million each, rather than up to US$2.6
million previously agreed), six and twelve months post Completion, contingent
on the satisfaction of agreed amended performance conditions.

·    CPP India will have on Completion a minimum cash balance of US$8.0
million rather than US$7.0 million previously agreed.

Unless otherwise indicated, defined terms in this announcement shall have the
same meanings as those given to them in the circular published by the Company
on 29 July 2025.

Proposed completion timing

The conditions precedent to the completion of the Disposal have now been
satisfied and it is currently anticipated that the Disposal will be completed
on the basis of the revised terms set out above within the next five business
days subject to certain share transfer formalities in India.

(1) In line with the Amended SPA the US$ to Indian rupees translation has been
fixed at an exchange rate of 87.00. The sterling equivalent has been
calculated at current £:INR exchange rate of 119.55.

ENQUIRIES

 

CPPGroup plc

Simon Pyper, Chief Executive
Officer
via Alma Strategic Communications

David Bowling, Chief Financial Officer

 

Panmure Liberum

(Nominated Adviser and Sole
Broker)
Tel: +44 (0)20 310 2000

Corporate Finance:

Stephen Jones

Atholl Tweedie

Will King

 

M&A:

Tim Medak

 

Alma Strategic
Communications
                            CPP@almastrategic.com
(mailto:CPP@almastrategic.com)

Josh
Royston
Tel: +44 (0)20 3405 0205 (tel:+442034050205)

Andrew Jaques

David Ison

 

About CPP Group:

CPP Group is a technology-driven assistance company that creates embedded and
ancillary real-time assistance products and resolution services that reduce
disruption to everyday life for millions of people across the world, at the
time and place they are needed. CPP Group is listed on AIM, operated by
the London Stock Exchange.

 

For more information on CPP visit https://corporate.cppgroup.com/
(https://corporate.cppgroup.com/)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISFLFSLAEISLIE