2. Indicative non-binding proposal received but not proceedingIn...

2. Indicative non-binding proposal received but not proceeding
In April 2019 Nuheara received an indicative non-binding letter of intent from a large multinational
consumer electronics company (“Counterparty”) to acquire all of the shares in Nuheara at a price up
to A$0.084 per share in cash, based on 982,210,292 shares then on issue, proposed to be implemented
by way of a scheme of arrangement (the "Indicative Proposal").
announcement to asx july 3rd

Electronics giant Samsung launched a takeover bid for Perth-based earbud start-up Nuheara but pulled the deal after realising disclosure documents had to be submitted to the ASX.

Nuheara went into a trading halt on Wednesday as it informed the market that a "large multinational consumer electronics company" had approached with an $84 million acquisition offer in April.