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AUSSIE BROADBAND LIMITED — M&A Activity 2023
Oct 24, 2023
64278_rns_2023-10-24_e8be1f98-330c-4126-86bd-01095f6269c2.pdf
M&A Activity
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ASX Announcement 25 October 2023
Aussie Broadband Indicative Proposal for Symbio – Exclusivity Extension
Aussie Broadband Limited (ASX:ABB) refers to its announcement on 29 September 2023 regarding its conditional non-binding indicative proposal to acquire 100% of the shares in Symbio Holdings Limited (ASX: SYM, Symbio ), by way of a scheme of arrangement ( Indicative Proposal ) and entry into an exclusivity deed with Symbio ( Exclusivity Deed ).
Aussie Broadband is continuing due diligence on Symbio.
Aussie Broadband and Symbio have agreed to extend Aussie Broadband’s exclusivity for a further 7 days to 31 October 2023 on the same terms as the Exclusivity Deed.
Aussie Broadband notes the discussions with Symbio remain incomplete. There is no guarantee that any agreement will be reached or that a transaction will eventuate. At this time, Aussie Broadband shareholders do not need to take any action in relation to the Indicative Proposal. Aussie Broadband will keep the market informed in the event of any material developments in line with its continuous disclosure obligations.
ENDS
Authorised for release by the Aussie Broadband Board.
Investor enquiries contact Aline van Deventer on 0423 55 34 34 or [email protected]
Media enquiries contact Alex Walker on 0448 110 962
About Aussie Broadband Limited
Aussie Broadband is an Australian operated telecommunications and technology company that formed in 2008 in Morwell, Victoria.
The Company provides a broad range of solutions to residential, business, enterprise and government customers, and provides wholesale services to other telecommunications companies and managed service providers.
The Company is the 5[th] largest provider of broadband services in Australia and is one of only six tier 1 voice providers in Australia.
Aussie Broadband is focused on building market share in the business, enterprise & government and wholesale segments through its range of data, voice, cloud and managed solutions, whilst continuing to build share in the residential segment.
For further information please visit: https://www.aussiebroadband.com.au/