Prospa Group Ltd. (AU:PGL) has released an update.
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Prospa Group Ltd. reported a 4% decrease in quarterly originations and an 18% annual drop due to a conservative response to economic challenges, with net bad debts rising by 27%. Additionally, a scheme of arrangement is in progress for Salkbridge Pty Ltd, led by the Salter Brothers Tech Fund, to acquire Prospa shares, with modifications that may affect Prospa’s and its subsidiaries’ tax profiles. Shareholders are advised to review the Scheme Booklet thoroughly before the upcoming vote, as the Independent Board Committee continues to recommend the Scheme.
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