Update on Scheme of Arrangement

K2fly Limited (ASX:K2F) has received approval from the Supreme Court of Western Australia for the proposed acquisition of 100% of its shares by Argyle Bidco Pty Ltd, ultimately controlled by Accel-KKR Capital Partners VII, LP, via a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth). The Court's orders will be lodged with the Australian Securities and Investments Commission on Tuesday, 17 September 2024, at which time the Scheme will become legally effective. K2fly's shares on the ASX will be suspended from trading with effect from the close of trading tomorrow.

Executive Commentary

The Supreme Court of Western Australia's approval of the scheme of arrangement marks a significant milestone in the acquisition process. We are pleased with the progress and will continue to keep our shareholders informed as the timetable progresses.

Summary of Court Approval

K2fly Limited (ASX:K2F) has successfully obtained approval from the Supreme Court of Western Australia for the proposed acquisition of its shares by Argyle Bidco Pty Ltd, ultimately controlled by Accel-KKR Capital Partners VII, LP, via a scheme of arrangement. The Scheme is set to become legally effective upon the lodging of the Court's orders with the Australian Securities and Investments Commission. K2fly will suspend the trading of its shares on the ASX from the close of trading tomorrow. The company will continue to update its shareholders on any material developments in relation to the Scheme as the timetable progresses.