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NEXTED GROUP LIMITED — M&A Activity 2021
Sep 30, 2021
65463_rns_2021-09-30_672020cc-4bb8-4f2d-9746-58a6cba0862a.pdf
M&A Activity
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1 OCTOBER 2021
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ASX / MEDIA RELEASE
iCOLLEGE OFFER DECLARED UNCONDITIONAL
RedHill Education Limited (ASX: RDH) (“RedHill”) refers to iCollege Limited’s (ASX: ICT) (“iCollege” or “ICT”) RedHill Board recommended revised takeover bid for all the fully paid ordinary shares in RedHill (“ICT Offer”). As announced by ICT, iCollege currently has a relevant interest in RedHill shares of 92.4%.
ICT Offer declared unconditional
As announced by iCollege earlier today, the ICT Offer has been declared free from all the conditions set out in Section 6 of Schedule 1 of iCollege’s Replacement Bidder’s Statement dated 9 April 2021 (as further supplemented and varied). Accordingly, the ICT Offer is now unconditional.
Compulsory acquisition
iCollege have also announced that, given its relevant interest in RedHill exceeds 90%, it intends to proceed with compulsory acquisition of any RedHill shares that it does not own in accordance with the Corporations Act. iCollege will update the market when the compulsory acquisition process has started.
RedHill shareholders encouraged to accept the ICT Offer
The ICT Offer will close at 7.00pm (Sydney time) on 11 October 2021.
RedHill’s Directors urge all RedHill shareholders who have not yet accepted the ICT Offer to ACCEPT WITHOUT DELAY before the ICT Offer closes to receive their iCollege shares. By accepting the ICT Offer prior to its close, RedHill shareholders will receive their iCollege shares quicker relative to awaiting ICT's compulsory acquisition process (as noted above), which is likely to take a further 4 – 6 weeks to complete and for you to receive your iCollege shares.
Further information
Should RedHill shareholders have any queries in relation to this announcement, please contact the RedHill shareholder information helpline on 1300 148 799 or +61 3 9415 4265.
Authorised for release to ASX by the Board of Directors of RedHill.
CONTACTS
Glenn Elith Lisa Jones Chief Executive Officer Company Secretary Email: [email protected] Email: [email protected]
ABOUT REDHILL
RedHill has a portfolio of quality education businesses at the premium end of the private education market to capitalise on the demand for higher education, vocational training and English language programmes. For further information refer to our website www.redhilleducation.com.
RedHill Education Limited L2, 7 Kelly St, Ultimo NSW 2007 T +61 2 8355 3820 | F +61 2 9211 8355 | W www.redhilleducation.com