Xref Limited (ASX:XF1) Announces Proposed Acquisition by SEEK
Acquisition Details
Xref Limited (ASX:XF1) has proposed a scheme of arrangement for SEEK International Investments Pty Ltd to acquire 100% of its issued shares for $0.218 per share. This offers a 61% premium to the undisturbed price of $0.135 per share and a 41% premium to the 30-day volume weighted average price of $0.155 per share. The Scheme Consideration of $0.218 per share is also a 4% premium to the closing price on the Last Practicable Date of $0.210.
Board Recommendation
The Xref Directors unanimously recommend voting in favour of the Scheme, deeming it fair and in the best interests of shareholders. They confirmed no Superior Proposal has emerged and believe the Scheme provides certainty and a significant premium for shareholders’ investments.
Voting Information
The Scheme Meeting was held as a hybrid meeting, allowing shareholders to participate in person, virtually, or by telephone. Voting results will be communicated to the ASX after the meeting’s conclusion.
Motley Fool contributor Matt Burgess 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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