K2fly scheme of arrangement update

K2fly Limited (ASX:K2F) has confirmed the legal effectiveness of the proposed acquisition of 100% of the K2fly 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) (Scheme). The company has lodged the Court Orders with the Australian Securities and Investments Commission (ASIC) and expects the K2fly shares to be suspended from trading on the ASX from the close of trading today. Shareholders who hold K2fly shares at 5:00pm (AWST) on Thursday, 19 September 2024, will receive $0.19 cash per share held at the Record Date.

Executive commentary on scheme of arrangement

The Scheme has been legally approved, and we are proceeding with the next steps as outlined in the timetable. We are committed to keeping our shareholders informed of any material developments as the process progresses. For further information or questions regarding the Scheme, shareholders can contact the K2fly shareholder Information Line.

Summary of K2fly scheme of arrangement

K2fly Limited (ASX:K2F) has successfully confirmed the legal effectiveness of the proposed acquisition of 100% of the K2fly shares by Argyle Bidco Pty Ltd via a scheme of arrangement. Shareholders are set to receive $0.19 cash per share held at the Record Date. The company will keep shareholders updated on any material developments as the process progresses. The Scheme is expected to be implemented, and the Scheme Consideration will be sent to K2fly shareholders on Friday, 27 September 2024. K2fly will continue to provide further updates as the timetable progresses.