On January 22, 2021, Connells Limited announced that on December 31, 2020, the boards of Countrywide plc and Connells Limited stated that they had reached agreement on the terms of a recommended cash acquisition pursuant to which Connells Limited would acquire the entire issued and to be issued share capital of the Company not already owned by or on behalf of Connells Limited, to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act.