STM Group, the cross border financial services provider, said on 4 April that it has been advised that the UK’s Financial Conduct Authority has approved the regulatory change of control applications made by Pathlines Holdings Limited in relation to its acquisition of the SIPPS companies.
“The acquisition remains subject to the satisfaction or (where capable of being waived) waiver of the other conditions to the Acquisition (as set out in Part Three of the Scheme Document), including the regulatory conditions”, the statement said.
STM further stated that Jambo SRC Ltd had submitted regulatory change of control applications to the Gibraltar Financial Services Commission and the Malta Financial Services Authority in relation to its acquisition of the company, and these applications continue to progress.
The expected timetable of principal events remains as set out on pages 9 and 10 of the scheme document dated 7 November 2023, with a long stop date of 28 May 2024.
