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HUB24 LIMITED — M&A Activity 2022
Feb 6, 2022
65077_rns_2022-02-06_5a5e50cf-b6ab-47b9-8ba9-8e97a52c2163.pdf
M&A Activity
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7 February 2022
Scheme of Arrangement is Legally Effective
Lodgement of court orders with ASIC
Further to its announcement on Friday, 4 February 2022, Class Limited (ASX:CL1) ( Class ) is pleased to announce that an office copy of the orders made by the Supreme Court of New South Wales approving the scheme of arrangement under which HUB24 Limited (ASX:HUB) ( HUB24 ) will acquire all of the shares in Class ( Scheme ) has been lodged with the Australian Securities and Investments Commission pursuant to section 411(10) of the Corporations Act 2001 (Cth).
Accordingly, the Scheme is now legally effective.
Suspension of trading
It is expected that trading in Class shares will be suspended from close of trading today.
Payment of Scheme consideration
Class shareholders will be provided the Scheme consideration of:
-
1 HUB24 ordinary share for every 11 Class ordinary shares (other than Ineligible Foreign Shareholders); and
-
a cash amount of $0.125 for every Class ordinary share,
on implementation of the Scheme (expected to be Wednesday, 16 February 2022) in respect of Class shares held at 7:00pm (Sydney time) on Wednesday, 9 February 2022.
The new HUB24 shares to be issued pursuant to the Scheme are expected to commence trading on the ASX on Tuesday, 8 February 2022 on a deferred settlement basis, until normal settlement commences on Thursday, 17 February 2022.[1]
Further information
Class shareholders requiring further information in relation to the Scheme may contact the Class Shareholder Information Line on 1300 306 413 (within Australia) or +61 1300 306 413 (outside Australia), Monday to Friday (excluding public holidays) between 9.00am and 5.00pm (Sydney time).
This announcement has been authorised by the Class Board.
ENDS
Enquiries
For further information please contact: Jasmin Chew Company Secretary Email [email protected]
1 It is the responsibility of each Class shareholder to confirm their holdings of new HUB24 shares before they trade them to avoid the risk of committing to sell more than will be issued to them. Class shareholders who sell new HUB24 shares before they receive their holding statements or confirm their holdings of new HUB24 shares do so at their own risk. Neither Class nor HUB24 takes any responsibility for such trading.