Acta Investment Group to Undertake Proportional Takeover of Helix Resources (ASX:HLX)
Takeover Offer Details
Acta Investment Group Pty Ltd (Acta) has lodged a proportional takeover offer for Helix Resources Limited (ASX:HLX) aiming to acquire 25% of the shares that it and its associates do not already hold. This off-market offer follows the guidelines set forth under Chapter 6 of the Corporations Act 2001 (Cth).
The offer includes a supplementary bidder’s statement released on December 27, 2024. This statement outlines the updated conditions and changes from the original bid submitted on October 30, 2024. Acta plans to proceed with its proposal, alongside assurances regarding shareholder interests.
Conditions and Waivers
Acta has waived several conditions that were previously outlined in the original bidder’s statement. Key waived conditions include adverse effects concerning the acquisition and various obligations related to the offer’s acceptance.
However, the offer remains subject to certain conditions taking effect during the takeover process. This includes regulatory approvals and adherence to prescribed occurrences during the offer period.
Executive Comments
Michael Povey, Director of Acta, noted, “We are pleased to be working with the board of Helix in entering the Implementation Agreement, which we believe will be positive for the shareholders of Helix.”
He reinforced Acta’s commitment to a collaborative approach with Helix Resources and the potential benefits for all stakeholders involved.
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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