Elph Investments Announces All-Cash Takeover Offer for Engenco Limited (ASX:EGN)
Offer Details
Elph Investments Pty Ltd has announced an off-market all-cash takeover offer to acquire all ordinary shares of Engenco Limited (ASX:EGN) at $0.305 per share.
Premium Offered
The Offer Price represents a premium of 45.2% to the closing trading price on 6 March 2025, and up to 63% over the 180-day volume weighted average price. Additionally, Engenco shareholders will receive a $0.005 dividend per share, not deducted from the Offer Price.
Current Holdings
Elph Investments currently holds 37.13% of Engenco shares, with its associate, Elph Pty Ltd, owning 31.48%, bringing the total to approximately 68.61%. The Elphinstone Group has maintained this controlling interest since 2013.
Offer Conditions
The Offer is subject to conditions including a minimum acceptance threshold and no material adverse events. Elph Investments will acquire remaining shares compulsorily if necessary. Further details will be provided in the Bidder’s Statement.
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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