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CADENCE CAPITAL LIMITED — M&A Activity 2013
Oct 27, 2013
64631_rns_2013-10-27_9ff5dd74-8137-40dc-b728-b2eb2d946343.pdf
M&A Activity
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ABN 22 055 136 564
ASX CODE: RHG FOR IMMEDIATE RELEASE TO MARKET
25 October 2013
Media release by Pepper dated 25 October 2013
RHG notes that Pepper Australia Pty Limited (“ Pepper ”) today issued a media release on its website titled “Pepper Group Responds to 18 October 2013 Announcement by RHG Limited” (“ Media Release ”).
In the Media Release, Pepper’s Co-Group Chief Executive Officer, Patrick Tuttle, noted that Pepper and Cadence Capital Limited have decided to withdraw their offer announced to the market by RHG on 9 September 2013, as supplemented with an addendum[1] (“ Pepper CDM Proposal ”).
Recommendation of Revised Resimac Offer by RHG Board
Yesterday it was announced by RHG that the RHG Board had unanimously agreed to accept the terms of the revised offer by Australian Mortgage Acquisition Company Pty Limited and Resimac Limited[2] (“ Revised Resimac Offer ”) as the Revised Resimac offer provides a superior outcome for RHG’s shareholders as a whole, compared with the Pepper CDM Proposal. The RHG Board’s recommendation of the scheme of arrangement to implement the Revised Resimac Offer is subject to:
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the absence of any superior proposal; and
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the Independent Expert concluding and continuing to conclude, that the Revised Resimac Offer is in the best interests of RHG shareholders.
Status of Revised Draft Scheme Booklet
RHG today announced that it had provided a further revised draft Scheme Booklet (which reflects the Revised Resimac Offer) to ASIC for review in accordance with section 411 of the Corporations Act 2001 (Cth).
Media enquiries
For media enquiries, please contact: David Symons (+61 410 559 184)
1 This was the subject of an announcement by RHG dated 11 October 2013
2 The receipt of the Revised Resimac Offer was announced to the market by RHG on 15 October 2013.
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RHG Limited Level 6, 222 Pitt Street SYDNEY NSW 2000 T: +61 2 8028 2333 F: +61 2 9252 0311 www.rhgl.com.au