Yowie Group Limited (ASX:YOW) Announces Scrip Takeover Bid for Keybridge Capital Limited
Takeover Bid Details
Yowie Group Limited (ASX:YOW) intends to make an off-market scrip takeover bid for all issued fully paid ordinary shares of Keybridge Capital Limited (ASX:KBC). The offer proposes 1 Yowie share for each KBC share on issue, allowing KBC shareholders to accept all or part of their shares.
Offer Conditions
The takeover will proceed subject to a minimum acceptance of 50.1% of KBC shares, Yowie shareholder approval, ASIC exemption, and no significant regulatory or business changes during the offer period. Additional conditions include no material transactions, litigation, or de-listing of KBC from the ASX.
Board Recusal
Mr Nicholas Bolton and Mr John Patton have recused themselves from the approval process related to the offer due to their relationships with KBC and interests in Aurora Funds Management Limited. Yowie has implemented procedures to ensure their continued recusal from strategic decisions regarding the bid.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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