RNS Number: 2876N – FirstCash Holdings, Inc. Announces Final Recommended Cash Offer for Ramsdens Holdings PLC
Date: 22 July 2026
FOR IMMEDIATE RELEASE
Disclosure under Rule 2.10(c) of the Takeover Code
Update on Letters of Intent
FirstCash Holdings Moves to Acquire Ramsdens Holdings in Major Cash Offer
July 22, 2026 — In a significant development in 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, facilitated through Chess Bidco Limited, a wholly-owned subsidiary of FirstCash, aims to acquire the entire issued share capital of Ramsdens.
The boards of directors for both companies reached an agreement on the terms of the acquisition on June 23, 2026. Following negotiations, a revised offer was announced on July 16, enhancing the value for Ramsdens shareholders. This revised offer is touted as the final proposal, with FirstCash reserving the right to adjust the financial terms only under exceptional circumstances, such as competing offers from third parties.
The acquisition will be executed via a Court-sanctioned Scheme of Arrangement under Part 26 of the Companies Act 2006. A detailed Scheme Document was published on July 17, outlining the terms and conditions of the acquisition, including voting procedures for Ramsdens shareholders.
As part of the acquisition process, Chess 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 revealed that some shares have been sold, slightly reducing the total to approximately 6.99% from one of the major shareholders.
In total, letters of intent and irrevocable undertakings from Ramsdens directors now account for about 17.25% of the company’s total issued share capital, indicating a strong level of support for the acquisition among key stakeholders.
Rick L. Wessel, CEO and Vice-Chairman of FirstCash, expressed optimism about the acquisition, stating, “This strategic move not only enhances our market position but also aligns with our long-term growth objectives. We are committed to ensuring a smooth transition for Ramsdens shareholders and employees.”
The acquisition is subject to approval from Ramsdens shareholders and regulatory bodies, with the timeline for completion still to be determined. As the financial landscape continues to evolve, this acquisition could set the stage for further consolidation in the sector.
Investors and stakeholders are urged to review the Scheme Document for comprehensive details regarding the acquisition and to stay informed about upcoming meetings and voting procedures.
For further inquiries, FirstCash and Chess Bidco can be contacted through their investor relations team.
This announcement is for informational purposes only and does not constitute an offer or solicitation of an offer to purchase or sell any securities.