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DMH Stallard advises Ora Technology Plc on its reverse takeover

By Giedre Doig

03/06/2025

DMH Stallard advises Ora Technology Plc (Ora) on its acquisition by Sundae Bar Plc (sundae_bar) by means of a takeover offer (Offer). The transaction included approval of the waiver of Rule 9 of the City Code on Takeovers and Mergers. Ora shareholders received 206,680,050 shares in sundae_bar (Consideration Shares) in exchange for the shares of Ora (0.9848 Consideration Shares in exchange for every 1 Ora share)

Sundae_bar is a company creating a marketplace for AI Agents. The enlarged group of sundae_bar was admitted to trading on the AIM market of the London Stock Exchange on 3 June 2025 (AIM: SBAR).

Shares of both companies were previously admitted to trading on the Access Segment of AQSE.

The sundae_bar platform is intended to streamline the AI ecosystem by creating a unified marketplace, seamlessly connecting AI agents with businesses and individuals. Ora’s existing trading platform includes essential features such as KYC/AML compliance, integrated payment systems, marketing tools and product creation capabilities. These core elements align well with the needs of a marketplace for AI Agents, providing an immediate technical infrastructure to support secure transactions, compliance and agent management. It will benefit the shareholders, clients, commercial counterparties and other stakeholders of the enlarged group.

DMH Stallard’s team included Corporate Lawyers Chris Simmons, Giedre Doig and Emma Lopez.

About the authors

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Giedre Doig

Senior Associate

Advises clients on private M&A, equity capital markets, joint ventures and corporate restructuring.

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