RNS Number: 4668N
FirstCash Holdings, Inc.
22 July 2026
Disclosure Under Rule 2.10(c) of the Takeover Code
Final Recommended Cash Offer for Ramsdens Holdings PLC by Chess Bidco Limited
Update on Letters of Intent
FirstCash Holdings Moves to Acquire Ramsdens Holdings in Strategic Cash Offer
London, 22 July 2026 — In a significant development in the financial services sector, FirstCash Holdings, Inc. has announced a final recommended cash offer for Ramsdens Holdings PLC through its wholly-owned subsidiary, Chess Bidco Limited. This acquisition, which is set to be executed via a court-sanctioned scheme of arrangement, marks a pivotal moment for both companies.
On June 23, 2026, the boards of Bidco and Ramsdens revealed they had reached an agreement on the terms of the acquisition, which aims to enhance shareholder value. Following negotiations, a revised offer was announced on July 16, increasing the cash value for Ramsdens shareholders. Notably, Bidco has stated that this revised offer is final, with no further increases anticipated unless exceptional circumstances arise.
The acquisition process will be governed by Part 26 of the Companies Act 2006, with a detailed scheme document published on July 17, outlining the terms and conditions of the offer.
Letters of Intent Signal Strong Support
As part of the acquisition strategy, Bidco has secured non-binding letters of intent from key shareholders, including Lion Nominees Limited and Downing LLP, representing approximately 13.16% of Ramsdens’ existing share capital. However, recent disclosures indicate that both entities have sold portions of their shares, reducing their commitments to 6.98% and 6.12%, respectively. This brings the total shares subject to letters of intent to approximately 13.10%.
In addition to these letters, Bidco has received irrevocable undertakings from Ramsdens’ directors, further solidifying support for the scheme. Collectively, these commitments account for about 17.19% of Ramsdens’ total issued share capital.
Regulatory Compliance and Next Steps
The acquisition is subject to regulatory approvals and the approval of Ramsdens shareholders at upcoming meetings. FirstCash and Bidco are urging Ramsdens shareholders to review the scheme document carefully, as it contains crucial information regarding the acquisition process.
Rick L. Wessel, CEO of FirstCash, expressed optimism about the acquisition, stating, “This strategic move is designed to create value for our shareholders and enhance our market position. We believe that the integration of Ramsdens will provide significant growth opportunities.”
Looking Ahead
As the acquisition progresses, both companies will navigate the complexities of regulatory compliance and shareholder approval. The outcome of this deal could reshape the competitive landscape in the financial services sector, offering new opportunities for growth and expansion.
For further inquiries, FirstCash and Bidco representatives are available for comment, emphasizing their commitment to transparency throughout the acquisition process.
This announcement is for informational purposes only and does not constitute an offer or solicitation of an offer to purchase or sell any securities.