Helios Consortium Offer for CAB

Executive Summary

• The Helios Consortium re‑affirms its cash offer to acquire all outstanding CAB Payments shares at US $1.15 per share, supported by shareholders representing 52.70% of the company’s issued capital.
• StoneX Group’s non‑binding proposal has been rejected after the Helios Consortium declined to provide an irrevocable undertaking, leaving the Helios Offer as the only firm and deliverable offer.
• The Helios Consortium is pressing CAB Payments’ board to supply required “Requisite Information” for regulatory filings; the board has so far refused, potentially delaying the offer process.

Key Details

• Offer Terms: US $1.15 cash per CAB Payments share (or Partial Alternative Offer).
• Support Level: Helios Consortium and allied parties control/pledge 133,924,859 shares (52.70%) of the total 254,143,218 issued shares.
• Helios Fund III: 114,640,189 shares (≈45.11%).
• Eurocomm irrevocable undertaking: 13,264,981 shares (≈5.22%).
• Letter of intent from Bhairav Trivedi: 6,019,689 shares (≈2.37%).
• StoneX Proposal: Non‑binding cash offer submitted on 16 Mar 2026; contingent on an irrevocable undertaking from Helios – which was declined.
• Regulatory Filings: Helios Consortium must file with regulators using “Requisite Information” held by CAB Payments’ board; the board has refused to provide it, prompting Helios to proceed with incomplete data and warning of potential delays.
• Board Stance: CAB Board has not recommended the Helios Offer and is currently refusing to supply required information.
• Advisors:
• Financial Adviser – Rothschild & Co (John Deans, Toby Ross).
• Communications Adviser – Teneo (Rob Yates, Ed Cropley).

Notable Quotes

(No direct CEO/President quotes were included in the release.)