East 33 Limited (ASX: E33) has entered a Bid Implementation Deed with Yumbah Aquaculture Limited (Yumbah), which will make an off-market takeover offer to acquire 100% of East 33’s shares for AU$0.022 per share. The Independent Board Committee (IBC) of East 33 unanimously recommends shareholders accept the offer, provided there is no superior proposal, and the offer is deemed fair and reasonable by an independent expert.
This all-cash offer provides liquidity and certainty for shareholders, representing a premium over recent trading prices and VWAPs. It also mitigates the risk of insufficient future funding for East 33. Additionally, no superior proposal has emerged, and the offer avoids risks associated with ongoing investment in the aquaculture sector. Yumbah intends to delist East 33 following the acquisition. Detailed information will be provided in the Bidder's and Target's Statements, which shareholders should review before acting.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
