I believe the Additional Return Amount (ARA) would have been factored into the calculation by the bidders based on the price of $4.60 (or more if that is forthcoming). The ARA is expected to be payable whether at early redemption or at maturity (hence the mention of the ARA being frozen at $4.50 as at 28 Feb 2025).
So I don’t think this changes much, other than an increase interest in the short term prior to potential acquisition. Conversely, it locks in the ARA at $4.50, so no further liability if say the takeover price is $5, which would save $0.50 worth of ARA later on, which offsets any short term increase in interest.
Ann: Early redemption request for subordinated loan notes, page-18
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Last
$3.52 |
Change
-0.080(2.22%) |
Mkt cap ! $2.360B | |||
| Open | High | Low | Value | Volume |
| $3.57 | $3.57 | $3.48 | $7.580M | 2.154M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 15629 | $3.49 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.52 | 39699 | 8 |
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| Last trade - 16.10pm 13/06/2025 (20 minute delay) ? |
| IFL (ASX) Chart |