Plums Ltd has acquired 45% of ordinary shares in Sloe Ltd. Another investor has a 10% shareholding in Santal Ltd whilst the remaining voting rights are held by thousands of shareholders, none of whom individually hold more than 1% of the voting rights. Plums Ltd holds convertible debt instrument that, as at 30 June 2023, are convertible into ordinary shares of Sloe Ltd at a price of $ 20 per share. At 30 June 2023, the shares of Sloe Ltd trade at $ 19.50 per share. Plums Ltd would hold 65% of the voting rights in Sloe Ltd if Plums Ltd exercise its right to convert the debt. Both companies operate in Sloe industries and would benefit from synergies