Link Administration Holdings Limited (ASX:LNK) announced the spin-off of 38.49% stake in PEXA Group Limited (ASX:PXA) for approximately AUD 940 million on November 22, 2022. As per the distribution, eligible shareholders will be entitled to receive one PEXA share for every 7.52 Link Administration shares held at the Record Date being January 3, 2023. Link Administration will convene an extraordinary general meeting of shareholders to consider and vote on the distribution. The Link Board unanimously recommends that Link Group shareholders vote in favor of the distribution. Link Administration shareholders approved the deal on December 23, 2022. The date of implementation of distribution shall be January 10, 2023. Deloitte Corporate Finance Pty Limited acted as independent expert for Link Administration. Link Market Services Limited acted as registrar, Macquarie Capital (Australia) Limited and UBS Securities Australia Limited acted as financial advisor, Tony Damian and Nicole Pedler of Herbert Smith Freehills acted as legal advisor, KPMG Financial Advisory Services (Australia) Pty Ltd acted as accountant and PricewaterhouseCoopers acted as tax advisor for Link Administration. Deloitte Corporate Finance Pty Limited charged a fee of AUD 0.2 million.

Link Administration Holdings Limited (ASX:LNK) completed the spin-off of 38.49% stake in PEXA Group Limited (ASX:PXA) on January 10, 2023.