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13 December 2019

Charles Russell Speechlys advises N+1 Singer Advisory LLP on its £81m tender offer on behalf of Checkit Plc

Charles Russell Speechlys has advised N+1 Singer Advisory LLP, as nominated adviser and broker to Checkit Plc, in relation to a tender offer which returned approximately £81 million to the qualifying shareholders of Checkit Plc, a management tool software provider using IoT, mobile and cloud technologies.

The tender offer was made by N+1 Singer on the basis that they purchased up to approximately 66.7 per cent of Checkit Plc’s ordinary shares at a price of 65 pence per share (which represents a premium of 16.1 per cent to the closing mid-market price of 56 pence on 31 October 2019).

Corporate Partner Andrew Collins commented on the transaction: “It was pleasure working with the team at N+1 Singer and advising them on the repurchase agreement and the terms of the circular to shareholders. We are delighted to see that they have achieved the best outcome and we look forward to assisting them in the future.

The Charles Russell Speechlys team was led by Corporate Partner Andrew Collins.