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NEXTED GROUP LIMITED — M&A Activity 2021
Mar 24, 2021
65463_rns_2021-03-24_ae57da1a-95fa-4c1f-a61e-4cc7792bad93.pdf
M&A Activity
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ASX / MEDIA RELEASE
25 MARCH 2021
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RedHill Education Limited
Unsolicited Takeover Offer for RedHill from iCollege Limited
RedHill Education Limited ( RedHill ) notes that iCollege Limited ( ICT ) has lodged a bidder’s statement in relation to a proposed off-market takeover bid for consideration of 7.6 fully paid ordinary shares in ICT for every one fully paid ordinary share in RedHill ( ICT Offer ). The ICT Offer is unsolicited and conditional on a number of matters.
The RedHill Board is reviewing the ICT Offer and ICT’s bidder’s statement and is not in a position to make a recommendation as yet.
Accordingly, RedHill shareholders are advised to TAKE NO ACTION in relation to the ICT Offer until the Board has had a chance to fully consider it and the bidder’s statement. The Board’s recommendation will be included in RedHill’s target’s statement, which will be released in due course.
The ICT Offer will be open for at least one month after it commences, so it will not close until May 2021 at the earliest. RedHill’s shareholders will therefore have sufficient time to make their decision in respect of the ICT Offer after consideration of RedHill’s target’s statement.
RedHill has appointed E&P Corporate Advisory as Financial Advisor and Minter Ellison as legal advisers in relation to the ICT Offer.
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 – ACN 119 952 493 L2, 7 Kelly St, Ultimo NSW 2007 T +61 2 8355 3820 | F +61 2 9211 8355 | W www.redhilleducation.com