Smoove plc is an AIM listed customer-focused technology and services business aiming to revolutionise home moving and ownership.
The Company’s cornerstone cloud-based platforms provide significant leverage for growth with strong, established client bases and routes to market – including mortgage brokers, conveyancers, estate agents and lenders.
eConveyancer is one of the leading distribution channels for conveyancing in the UK, bringing consumers and legal professionals together via comparison services, which provide solutions for home movers and the re-mortgage market. Their growing digital product suite supports the whole home moving experience.
DigitalMove, which is part of the eConveyancer and Smoove propositions, offers an onboarding and communications platform, which provides greater transparency, speeds up processes and increases security for consumers. The platforms have been designed with a view to adding services and reach, and the Company is well-placed to create exponential returns as functionality increases.
PEXA Group is the operator of the leading digital property settlements platform in Australia, employing approximately 1,000 people and listed on the ASX with a market cap of A$2.016 billion.
Having started in 2010 as a joint initiative of various state governments and the largest banks in Australia to phase out the use of inefficient paper-based property settlements, the PEXA Group today offers the world’s first digital platform for managing the lodgement and settlement of property transactions.
Having created the leading digital property settlements platform in Australia, Digcom was established in 2020 to enable PEXA to enter the UK market and implement its strategy to transform the UK property market.
In seeking to extend its digital property settlements platform knowledge in new geographies, the PEXA Group launched its initial remortgage offering in the UK in September 2022 following the successful testing of the PEXA settlement payment solution with the Bank of England.
Shortly after the UK launch, Digcom acquired Optima Legal, a high-volume remortgage conveyancing firm that provides legal services in the UK remortgage market.
On 4th October 2023, the boards of directors of Digcom UK Holdings Limited, an indirect subsidiary undertaking of PEXA Group and Smoove, announced that they have reached agreement on the terms of a recommended cash acquisition by Digcom of the entire issued and to be issued share capital of Smoove.
Publication of the Scheme Document
The Perivan shareholder communications team was delighted to work with Cavendish Securities who acted as Rule 3 Adviser and Shoosmiths who acted as legal adviser to Smoove on the production of the Scheme and associated and ancillary documents, which were successfully published and posted to qualifying shareholders on 16th October 2023.
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Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies, private companies, and open and closed-ended funds.