STM Group plc (GB:STM) has released an update.
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STM Group PLC is set to be acquired by Jambo SRC Limited, following a scheme of arrangement under the Isle of Man Companies Act, with the acquisition recently receiving conditional approval from the Malta Financial Services Authority. The completion date for this transaction has been extended to 31 October 2024, pending the provision of audited financial statements required for final approval. Shareholders of STM have overwhelmingly approved the acquisition, with further updates on the completion timetable to be announced.
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