Barclays Bank to acquire 20% stake in MSE-listed software firm

RS2 Software plc has announced Barclays Bank has expressed an interest in acquiring a significant stake in the software company.

The bank is a major global financial services provider of personal banking, credit cards, corporate and investment banking and wealth and investment management.

Barclays has agreed to acquire 4,250,000 shares, equivalent to 10% of the issued share capital, from Information Technology Management Holding Limited (ITM) at a price of €1.22 per share.

Barclays is planning to acquire up to 20% of RS2 stock as well as other shares listed on the Malta Stock Exchange.

A Barclays representative will be appointed to the RS2 board, with a board meeting now schedule for the 2 October.