Hancock & Gore Limited has proposed a non-binding offer to acquire all assets of H&G High Conviction Limited (ASX: HCF) through a scrip exchange, issuing HNG shares at AU$0.30 each. The deal values HCF's assets at AU$1.00 per share, adjusted for sale costs and dividends. HCF, a listed investment company, has responded positively, with discussions underway. HNG, which owns 20.4% of HCF, sees this acquisition as a strategic move to simplify its structure, increase equity by AU$20 million, and target returns exceeding 15% annually, while supporting Global Uniform Solutions' growth.
An Independent Board Committee, excluding Sandy Beard due to his role with H&G Investment Management, has been established to oversee the process. The proposal is subject to board and shareholder approvals, as well as definitive agreements, with no assurance of a binding outcome. Further updates will be provided as negotiations advance.
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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.
