K2fly (ASX:K2F) has confirmed the implementation of the scheme of arrangement for the acquisition of 100% of its shares by Argyle Bidco, controlled by Accel-KKR Capital Partners VII.
The approval follows the structure outlined under Part 5.1 of the Corporations Act 2001.
Eligible K2fly shareholders, holding shares as of the record date, Sept. 19, have received a cash consideration of 19 cents per share under the terms of the scheme.
In prior communications, K2fly announced the cessation of trading of its shares from the close of trading on Sept. 17.
The company will now proceed with its delisting from the ASX, effective from the close of trading on Sept. 30.
"Successful implementation of the Scheme marks a significant milestone for K2fly," stated Nic Pollock, CEO of K2fly.
K2fly is a provider of resource governance in environmental, social and governance compliance, disclosure, and technical assurance. The company focuses on the operations of mining and asset-intensive industries through its platform-based software-as-a-service cloud solutions.