Maxo Telecommunications Pty. Ltd. Extends Takeover Bid for Vonex Limited (ASX:VN8)

Extension of Offer Period

Maxo Telecommunications Pty. Ltd. has announced the extension of its unconditional on-market takeover bid for Vonex Limited. The offer period will now close on 23 December 2024, subject to further extensions or withdrawals.

Swoop’s Offer Update

In conjunction with this announcement, Swoop Telecommunications Pty Ltd has submitted a supplementary bidder’s statement. This statement includes an increase in the consideration offered from 1 share in Swoop Holdings Ltd for every 3.9 Vonex shares to 1 share for every 3.8 Vonex shares. Both takeover bids remain all-scrip offers.

Executive Comments

Brian Sheahan, Executive Chairman of Morgans Financial Limited, stated that the extension allows for further consideration of the existing offers by Vonex shareholders. The modifications by Swoop present additional alternatives for shareholders during this critical period.

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