Ramsdens Holdings (AIM:RFX), the pawnbroking and foreign currency exchange chain, confirmed that Chess Bidco, an indirect wholly-owned subsidiary of US pawnbroker FirstCash Holdings, has declared its revised cash offer final - offering 684p per share, including 675p of cash.
The buyer said it would not raise the terms further, and the Ramsdens board, advised by Cavendish, considers the revised offer fair and reasonable and continues to recommend it to shareholders.
FirstCash noted that it intends to draw funds from its US revolving credit facility to finance the acquisition and cover related costs, including potentially repaying Ramsdens' existing debt.
Trading update shows trading upside
Separately, Ramsdens has upgraded its profit guidance for the second time this year. The board said it now expects pre-tax profit for the year to 30 September to come in between £32m and £35m, above the £30m to £33m range set out at its interim results on 3 June.
Pawnbroking demand drove the upgrade, with the loan book rising by roughly £1m to £15.5m in the six weeks since May, following a record month of new lending in June.
"The foundations of the Group are strong," said chief executive Peter Kenyon, adding that new stores in Hereford and Skegness have opened, with Newark, Peterborough, Corby and St Helens progressing through fit-out.
Ramsdens, meanwhile, noted that gold prices have fallen more than 20% from their January high but remain elevated versus 2025 levels, and stock already purchased means the precious metals segment will still outperform prior expectations by year-end.
Jewellery retail is trading in line with expectations, while foreign currency volumes benefited from Scotland and England's participation in the World Cup, with Ramsdens Mastercard Multi Currency Card loads running 40% ahead of last year despite margin pressure.
