StoneX Group Inc, owner of Forex brands such as FOREX.com and City Index, today said it does not intend to make an offer for CAB Payments.

In October, CAB Payments announced it had received an unsolicited non-binding proposal from StoneX.

StoneX today confirmed that it does not intend to make an offer for CAB Payments.

Under Note 2 on Rule 2.8 of the Code, StoneX (and any person acting in concert with it) reserves the right to set aside the restrictions in Rule 2.8 of the Code within six months of the date of this announcement in any one or more of the following circumstances: (i) with the agreement of the Board of CAB Payments; (ii) a third party announces a firm intention to make an offer for CAB Payments; (iii) CAB Payments announces a Rule 9 waiver proposal or a reverse takeover; or (iv) there has been a material change of circumstances (as determined by the Panel).