RNS Number: 4381O
FirstCash Holdings, Inc.
Date: 29 July 2026
Subject: Disclosure Under Rule 2.10(c) of the Takeover Code Regarding Final Recommended Cash Offer for Ramsdens Holdings PLC by Chess Bidco Limited
Update on Letters of Intent and Shareholder Support for Acquisition
FirstCash Holdings Moves to Acquire Ramsdens Holdings in Strategic Cash Offer
29 July 2026 – In a significant development within the financial services sector, FirstCash Holdings, Inc. has announced a final recommended cash offer for Ramsdens Holdings PLC, marking a pivotal moment in the ongoing consolidation of the industry.
The acquisition, to be executed through Chess Bidco Limited—a wholly-owned subsidiary of FirstCash—aims to acquire the entire issued and to be issued share capital of Ramsdens. This strategic move follows an initial agreement reached on 23 June 2026, which has now evolved into a revised offer that enhances the value for Ramsdens shareholders.
Details of the Offer
On 16 July 2026, FirstCash and Ramsdens revealed a revised offer, emphasizing that this would be their final proposal unless exceptional circumstances arise, such as a competing bid from a third party. The acquisition will be implemented via a Court-sanctioned Scheme of Arrangement under the Companies Act 2006.
As part of the acquisition process, 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 6.96% and 6.10%, respectively.
Market Reactions and Future Implications
The announcement has stirred interest among investors and analysts, with many speculating on the potential synergies between FirstCash and Ramsdens. Rick L. Wessel, CEO of FirstCash, expressed optimism about the acquisition, stating, “This strategic move not only enhances our market position but also allows us to leverage Ramsdens’ established brand and customer base.”
As the acquisition progresses, shareholders are urged to review the Scheme Document, which outlines the full terms and conditions of the offer. The deal is subject to approval from Ramsdens shareholders and regulatory bodies, with a significant focus on ensuring compliance with the UK Takeover Code.
Looking Ahead
The acquisition of Ramsdens by FirstCash Holdings is poised to reshape the competitive landscape of the financial services sector. As the deal unfolds, stakeholders will be closely monitoring developments, particularly regarding shareholder responses and any potential rival offers that could emerge.
For further information, shareholders and interested parties can contact FirstCash’s investor relations team or refer to the official announcement on the London Stock Exchange.
This acquisition marks a notable chapter in FirstCash’s growth strategy, reflecting the ongoing evolution of the financial services industry in response to changing market dynamics.