IntelliHR board withdraws recommendation for Humanforce Scheme

IntelliHR Limited (ASX: IHR) has provided an update regarding the change of control proposals received from The Access Group (TAG) and Humanforce Holdings Pty Ltd. Here are the key points:

• On March 20, 2023, TAG proposed to acquire all of IHR's shares at 20 cents per share, subject to certain pre-conditions.
• On March 27, 2023, Humanforce increased the consideration payable under its on-market takeover bid to 19.5 cents per share but did not increase the consideration offered under its proposed scheme of arrangement.
• The independent board committee of IHR reviewed the Humanforce Counter Proposal and determined that TAG's proposal is superior to it.
• IHR intends to terminate the Humanforce SID and recommends that its shareholders take no action in relation to the Humanforce Bid or the Humanforce Scheme.

Customer Notice:

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.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com