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Eve and Simba discuss potential merger

Eve Sleep has announced that it is in “early stage” discussions regarding a potential merger with Simba as the two companies look to bolster their struggling businesses. If it proceeds, the… View Article

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Eve and Simba discuss potential merger

Eve Sleep has announced that it is in “early stage discussions regarding a potential merger with Simba as the two companies look to bolster their struggling businesses.

If it proceeds, the merger would come about through the potential acquisition of Simba by Eve.   

In a statement to the Stock Exchange this morning, Eve said its advisers are currently assessing if the merger would constitute a reverse takeover  under the AIM Rules for Companies. If so, this would require the publication of an admission document and the consent of Eve shareholders in a general meeting.

Eve stressed that as the discussions are at such an early stage and that due diligence has not been completed, it is not currently in a position to comply with the requirements of AIM Rule 14 regarding the publication of an admission document and the convening of a general meeting. There is also no certainty that the transaction will go ahead.

As a result, Eve has requested a temporary suspension of trading on AIM  until either the company publishes an admission document, discussions regarding the potential transaction have ended, or it has been concluded that the transaction is not a reverse takeover.

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