Engenco Limited (ASX:EGN) Announces Unconditional Takeover Offer by Elph Investments
Takeover Offer Details
Engenco Limited (Engenco) has received an unconditional takeover offer from Elph Investments Pty Ltd for shares at 31 cents per share. Elph Investments has acquired a relevant interest of 92.68% of Engenco’s shares, allowing the compulsory acquisition of the remaining shares.
Director’s Recommendation
The Recommending Directors advise Engenco shareholders to accept the Offer rather than wait for the compulsory acquisition process to complete. They recommend that shareholders promptly accept the Offer before it closes at 7.00pm Melbourne time on 27 June 2025.
Employee Share Purchase Plan Update
Engenco has released holding lock restrictions for Employee Share Purchase Plan Shares, enabling relevant holders to accept the Offer if they wish.
Motley Fool contributor Lianne Eastty 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.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.
