Eleco plc (AIM: ELCO), the construction software and technology company, has confirmed that all regulatory conditions relating to its recommended cash acquisition by Avocet Bidco Limited — an entity indirectly wholly owned by funds managed by Accel-KKR — have now been satisfied or waived. The 13 November 2026 announcement states that merger control approvals covering Australia and the United Kingdom, as well as UK foreign investment control and national security approval, have all been cleared. The Court Sanction Hearing is scheduled for 20 November 2026, with the scheme expected to become effective on 30 November 2026, marking a significant milestone for shareholders ahead of the AIM delisting.

Key Points

  • Eleco plc (AIM: ELCO) is subject to a recommended all-cash acquisition by Avocet Bidco Limited, backed by Accel-KKR
  • All merger control approvals for Australia and the UK, plus UK national security clearance, have been satisfied or waived
  • Court Sanction Hearing scheduled for 20 November 2026; scheme effective date expected 30 November 2026
  • Investors should watch for the Court Order delivery and any announcement of revised timetable dates via a Regulatory Information Service

Regulatory Clearances in Australia and the UK Now Confirmed for Eleco-Accel-KKR Deal

The announcement confirms that the conditions relating to merger control in both Australia and the United Kingdom, alongside the UK foreign investment control and national security approval, have all been satisfied or, where capable of waiver, waived. These approvals represent the most substantive regulatory hurdles in cross-border technology acquisitions and their clearance removes a material source of uncertainty for Eleco shareholders. The original terms of the recommended acquisition were agreed by both boards on 10 September 2026, with the scheme document published on 2 October 2026 setting out the full terms and conditions.

Eleco Shareholders Voted in Favour at October Court Meeting and General Meeting

On 27 October 2026, Eleco announced that the requisite majority of scheme shareholders had approved the scheme at the Court Meeting, and that the special resolution relating to scheme implementation had been passed by the requisite majority of Eleco shareholders at the General Meeting. These shareholder approvals, combined with the now-confirmed regulatory clearances, mean that the principal outstanding condition is the formal sanction of the scheme by the Court at the hearing scheduled for 20 November 2026, followed by delivery of the Court Order to the Registrar of Companies.

AIM Delisting and Consideration Dispatch Timetable Confirmed for Late November and December 2026

Subject to Court sanction, Eleco Shares are expected to cease trading on AIM on 27 November 2026, with dealings suspended by 7:30 a.m. on 30 November 2026 and admission to trading cancelled with effect from 7:00 a.m. on 1 December 2026. The announcement states that cheques, BACS transfers, and CREST credits for consideration due under the scheme are expected to be dispatched or processed by 14 December 2026. The long-stop date, being the latest date by which the scheme may become effective, remains 10 March 2027. Shareholders are directed to Eleco's investor relations website for any timetable updates.

Remaining Risk: Court Sanction Is the Final Condition Before Scheme Becomes Effective

Despite regulatory approvals being secured and shareholder votes passed, the scheme remains conditional on the Court formally sanctioning it at the 20 November 2026 hearing and the subsequent delivery of the Court Order to the Registrar of Companies. The announcement notes that all stated dates are indicative and subject to change. Investors should monitor announcements through a Regulatory Information Service, as any revision to the timetable will be communicated via that channel and published on both Eleco's and Bidco's dedicated offer websites.