Days before its takeover by Apex is scheduled to be considered by the Royal Court of Jersey, Sanne, the UK-listed provider of alternative asset and corporate services, has reported a record level of new business wins for H1 2022. The annualised value of new business wins in the period was up 24.8pct on the same period in the prior year to GBP19.6m (USD23.5m) from GBP15.7m (USD18.8m) with Sanne saying that the pipeline remains healthy.
In August 2021 Apex first announced that it was in “advanced discussions with the board of Sanne regarding a possible offer to be made by Apex for the entire issued, and to be issued, share capital of the company at a price of 920 pence per Sanne share, in cash”. Apex added that it was “well advanced in its due diligence review and is working closely with Sanne to complete the review as quickly as possible”. One year later, Sanne says that “all regulatory clearances have been received in relation to the acquisition by Apex and that the Scheme Sanction Hearing to sanction the Scheme will be held in the Royal Court of Jersey on 2 August 2022. Provided that the court sanctions the Scheme, it is expected to become effective on 4 August 2022”.