GTN LIMITED — M&A Activity 2024

Sep 8, 2024

9 September 2024

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GTN Limited Holding Statement in Response to Off-Market Bid

GTN Limited (ASX:GTN) notes the announcement by Viburnum Holdings Pty Ltd regarding its off-market bid to acquire shares in GTN Limited at 46.5c per share, a nil premium to last close, and recommends that shareholders REJECT that offer by TAKING NO ACTION at this stage.

The Board of GTN Limited has appointed a sub-committee of independent directors which is currently considering the terms of the bid and evaluating its strategic, financial, and operational implications for shareholders. The Board has appointed Jarden Australia Pty Ltd and King & Wood Mallesons to assist in this evaluation.

Shareholders are advised to take no action in response to the bid until the Board has completed its evaluation and issued a formal recommendation.

The Board notes that the buyback announced as part of the annual results, disclosed to the market on 27 August 2024, will remain in place.

GTN Limited will continue to comply with its continuous disclosure obligations under the ASX Listing Rules and will keep shareholders fully informed of any material developments.

Further information will be provided to shareholders in due course.

For further information, please contact:

Peter Tonagh

Independent Chairman

Mobile: 0409 555 734

Announcement authorised by:

GTN Board of Directors

GTN Limited (ACN 606 841 801) Level 42, Northpoint Tower, 100 Miller Street, North Sydney, NSW, 2060 Phone: +61 2 9963 6700