Nuvei’s plan of arrangement recommended by ISS

Nuvei announced that proxy advisory firm Institutional Shareholder Services – ISS – has recommended that Nuvei shareholders vote for the statutory plan of arrangement involving the company and Neon Maple Purchaser, a newly-formed entity controlled by Advent. The purchaser will acquire all the issued and outstanding subordinate voting shares and multiple voting shares of the company for $34.00 cash per share. The special meeting will be held on June 18 at 10:00 a.m. ET. In its recommendation, ISS stated: “(T)he offer represents a meaningful premium to the unaffected price, the sale process (and valuation) appears reasonable in the circumstances, and there are downside risks of non-approval. As such, support for the proposal is warranted.”