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Scheme document published for the all-share merger between Belvoir Group and the Property Franchise Group with a combined market cap of £214 million

January 2024

Belvoir is an AIM listed company headquartered in Grantham, UK and was founded in February 1995 as a specialist franchised lettings agent and has expanded to 487 offices across seven brands and is the UK’s largest property franchise group on the high street.

As a franchisor, Belvoir provides quality training and development support to establish its franchisees as local providers of reliable and trusted residential property-related services to landlords, tenants, vendors and buyers. Building on its market presence and professional reputation, the Group continues to grow its networks across the UK.

The Property Franchise Group is an AIM listed property franchisor and manages the second largest estate agency network and portfolio of lettings properties in the UK.

The Company was founded in 1986 and has since grown to a diverse portfolio of nine brands operating throughout the UK, comprising longstanding high-street focused brands and a hybrid, no sale no fee agency.

On 10th January 2023, the boards of The Property Franchise Group PLC and Belvoir Group announced that they had reached agreement on the terms and conditions of a recommended all-share merger of Belvoir and TPFG to create a leading property franchise business with a combined market cap of over £214.4 million to be implemented by means of a scheme of arrangement pursuant to Part 26 of the Companies Act 2006.


Publication of the Scheme Document

The Perivan shareholder communications team was delighted to work with Cavendish Capital Markets Limited who acted as financial adviser and Addleshaw Goddard who acted as legal adviser to Belvoir and Canaccord Genuity who acted as financial adviser and Osbourne Clarke who acted as legal adviser to TPFG on the production of the Scheme and associated and ancillary documents, which were successfully published and posted to qualifying shareholders on 24th January 2024.

For more information, click here


Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to Mergers & Acquisitions.

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