Why Have Splitit Payments Ltd's Shareholders Approved Motive Investment?
Splitit Payments Ltd
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Why Have Splitit Payments Ltd's Shareholders Approved Motive Investment?

Splitit Payments Limited, a leading global payment solutions provider, has recently received approval from its shareholders for an investment by Motive Partners. This investment, worth $50 million, is a significant milestone for Splitit and is expected to drive the company's growth and support the execution of its strategic plan.

Accelerating Growth and Strategic Execution

The $50 million investment from Motive Partners is a testament to Splitit's potential and the confidence placed in the company's future success. The funds will be utilized to accelerate the company's growth initiatives and further strengthen its position in the payment solutions industry. Splitit aims to expand its global reach and enhance its product offerings to better serve its customers.

The First Portion of the Investment Implementation

Once shareholders give their approval for Splitit's voluntary delisting from the Australian Securities Exchange (ASX) and the change of the company's domicile from Israel, the first portion of the investment will be immediately invested. This step is essential to ensure the smooth implementation of the investment plan.

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Delisting and Closing of the Investment

The closing of the first tranche of Motive Partners' investment will take place no later than December 13, 2023. Closing this investment round is the final condition for Splitit to be delisted from the ASX. It is anticipated that Splitit will be delisted on Wednesday, December 13, 2023. In accordance with ASX's requirements, Splitit will request a voluntary suspension before the market opens two business days prior to the proposed delisting date, which is set for Monday, December 11, 2023.

This investment and the subsequent delisting from the ASX are crucial milestones for Splitit Payments Ltd as the company looks to strengthen its position in the global payment solutions market and forge ahead with its strategic plans. By securing this investment, Splitit is well-positioned to drive its growth and continue to innovate in order to meet the evolving needs of its customers worldwide.

For more information about Splitit Payments Ltd, you can visit their website at www. splitit. com or contact them via email at info@splitit. com.

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