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READYTECH HOLDINGS LIMITED — Capital/Financing Update 2020
Dec 23, 2020
65678_rns_2020-12-23_302de34b-197c-489c-8c68-d7758d2cb34e.pdf
Capital/Financing Update
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ReadyTech Holdings Limited ABN 25 632 137 216
24 December 2020
ReadyTech extends exclusivity for Open Office acquisition opportunity
ReadyTech Holdings Limited (ASX:RDY) ( ReadyTech ) refers to its announcement dated 6 November 2020 regarding the acquisition opportunity and entry into a Heads of Agreement and Exclusivity Agreement with Pentagon Holdco Pty Ltd ACN 626 389 428 ( Pentagon Holdco ) (which owns Open Office Holdings Pty Ltd and McGirr Holdings Pty Ltd as well as other subsidiaries) (collectively Open Office ).
As announced on 6 November 2020, Pentagon Holdco together with its shareholders entered into an exclusivity agreement ( Exclusivity Agreement ) with ReadyTech pursuant to which they agreed to certain exclusivity obligations in connection with the proposed acquisition (including no-shop, notalk and no- due diligence provisions) in favour of ReadyTech until 24 December 2020.
ReadyTech today announces that the parties have agreed to extend the term of the Exclusivity Agreement by 15 days and that the exclusivity period will now cease on 8 January 2021.
The parties continue to negotiate the transaction documentation.
ReadyTech will continue to keep the market informed of any material developments in accordance with its continuous disclosure requirements.
This announcement has been approved by the Independent Board Committee.
For more information please contact:
Nimesh Shah Chief Financial Officer P: +61 437 980 296 E: [email protected]
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