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IRESS LIMITED — M&A Activity 2020
Jul 16, 2020
65141_rns_2020-07-16_249bd8cd-d1d4-4e5e-8ed0-32319d4c2738.pdf
M&A Activity
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17 July 2020
Indicative Scheme timetable
OneVue Holdings Limited (ASX: OVH) (OneVue or Company) refers to its previous announcement on 1 June 2020 regarding the proposed acquisition of 100% of the shares in OneVue by Iress Limited (ASX: IRE) by way of scheme of arrangement (Scheme).
OneVue advises shareholders that it is currently working with its advisers and Iress to finalise the Scheme Booklet, and wishes to provide the following updated indicative timetable for the Scheme which incorporates OneVue’s plan to release its Full Year 2020 results (Appendix 4E) on 27 August 2020:
| and wishes to provide the following updated indicative timetable for the Scheme which | and wishes to provide the following updated indicative timetable for the Scheme which | |
|---|---|---|
| ates OneVue’s plan to release its Full Year 2020 results (Appendix 4E) on 27 August 2020Indicative date | ||
| Event | Indicative date | |
| First court hearing | EarlySeptember 2020 | |
| Despatch of Scheme Booklet to OVH shareholders | EarlySeptember 2020 | |
| Scheme meeting | EarlyOctober 2020 | |
| Second court hearing | Earlyto mid October 2020 | |
| Effective date | Earlyto mid October 2020 | |
| Record date | Mid to late October 2020 | |
| Implementation date | Late October 2020 |
The dates outlined above are indicative only and are subject to all necessary approvals from the Court and other regulatory authorities.
The Scheme Booklet is expected to be distributed to OneVue shareholders in early September 2020 and it is anticipated that OneVue shareholders will meet to vote on the Scheme in early October 2020.
OneVue has engaged Grant Thornton Corporate Finance Pty Limited to prepare an Independent Expert’s Report in relation to the Scheme which will be included in the Scheme Booklet.
As a result of this updated indicative timetable, OneVue and Iress have also agreed that the ‘End Date’ defined in the Scheme Implementation Agreement dated 1 June 2020 will be extended by approximately one month to 31 December 2020.
The Company will provide further updates to shareholders and the market regarding the status of the Scheme, as appropriate.
This announcement was authorised for release to the market by the Board of OneVue Holdings Limited.
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For further information, please contact:
Connie Mckeage Ashley Fenton Managing Director Chief Financial Officer +61 403 609 965 +61 2 8823 2550
About OneVue Holdings Limited (ASX: OVH)
OneVue is an ASX listed high growth technology business with service leveraged to the superannuation sector. The business operates through two core divisions: Fund Services, and Platform Services.
OneVue is number 1 in Fund Services managed fund administration and number 3 in Superannuation Member Administration. Platform Services was recognised in Investment Trends’ December 2017 Platform Competitive Analysis and Benchmarking Report as ranking third in full function platforms, the winner of ‘Most New Developments’ Award for the second year running and winner of ‘Product Offering’ Award. In 2017 and 2018.
For further information, visit onevue.com.au
OneVue Holdings Limited | ABN 15 108 221 870 | Level 5, 10 Spring Street, Sydney NSW 2000 P: 1300 219 787 | E: [email protected]
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