CAB Payments today provided an update regarding the unsolicited non-binding proposal from StoneX Group Inc relating to a possible offer for the entire issued and to be issued share capital of CAB Payments at a price of 95 pence per share in cash.

CAB Payments said today that the Independent Board together with its advisers, has carefully evaluated the StoneX Possible Offer and concluded unanimously that it significantly undervalues CAB Payments and its future prospects. Accordingly, the Independent Board has communicated to StoneX that it has rejected the StoneX Possible Offer.

In evaluating the StoneX Possible Offer, the Independent Board has taken into account, among other things, the significant improvement in the Company’s financial and operational performance in FY25 as well as the medium-term financial guidance provided to the market in the Company’s 2025 results. The Independent Board has also engaged with the Company’s larger shareholders in relation to the StoneX Possible Offer.

There can be no certainty that any offer will be made by StoneX.