SIQ smartgroup corporation ltd
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News: SIQ Smartgroup Corporation Ltd Updates On Non-Binding Indicative Proposal

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    25/10/21
    10:10
    Post #: 57039815

    Oct 25 (Reuters) - Smartgroup Corporation Ltd (SIQ) :

    • UPDATE ON NON-BINDING INDICATIVE PROPOSAL
    • CONSORTIUM DOES NOT INTEND TO PROCEED WITH PROPOSAL TO ACQUIRE SMARTGROUP AT A$10.35 PER SHARE
    • DISCUSSIONS WITH CONSORTIUM IN RELATION TO PROPOSAL HAVE NOW CEASED
    • EXCLUSIVITY PROVISIONS UNDER CONFIDENTIALITY DEED BETWEEN CONSORTIUM AND SMARTGROUP HAVE TERMINATED
    • CONSORTIUM EXPRESSED ITS INTEREST TO PROCEED WITH REVISED PROPOSAL AT A REDUCED OFFER PRICE OF A$9.25 PER SHARE IN CASH
    • HAS UNANIMOUSLY CONCLUDED NOT TO PROCEED WITH DISCUSSIONS
    • ON TRACK TO DELIVER CY21 FINANCIAL PERFORMANCE IN LINE WITH CONSENSUS EXPECTATIONS
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