Brief: APM Human Services Receives Non-Binding Indicative Proposal From MDP

APM Human Services International

08/04/2024 02:50

April 8 (Reuters) - APM Human Services International Ltd
 APM.AX :
    * NON-BINDING ACQUISITION PROPOSAL AND BUSINESS
UPDATE-APM.AX
    * RECEIVED A NON-BINDING INDICATIVE PROPOSAL FROM FUNDS
CONTROLLED
BY MDP
    * PROPOSAL TO ACQUIRE ALL OF SHARES IN APM WHICH IT DOES NOT
ALREADY HOLD FOR A$1.40 CASH PER SHARE
    * MDP PROPOSAL DOES NOT REQUIRE EXCLUSIVITY AND ALLOWS
COMPANY TO
ENGAGE WITH OTHER POTENTIAL ACQUIRERS
    * IBC TOGETHER WITH ITS ADVISORS INTEND TO ENGAGE WITH MDP
AND ANY
OTHER INTERESTED PARTIES
    * IBC NOTES THAT OFFERED PRICE PER SHARE UNDER MDP PROPOSAL
IS
DISAPPOINTING
    * IBC RESPONSIBLE FOR ENGAGING WITH MDP IN RELATION TO THE
MDP
PROPOSAL AND OTHER POTENTIALLY INTERESTED  PARTIES
    * ENGAGED CBA AND HSBC AUSTRALIA TO LEAD ON EXTENSION AND
AMENDMENT OF DEBT FACILITIES
    * EXPECTS SIGNIFICANT INCREMENTAL EARNINGS GROWTH IN FY25
THROUGH
ANNOUNCED CONTRACT AWARDS & CORPORATE INITIATIVES
    * SEES FY24 UNDERLYING NPATA TO BE IN RANGE OF A$95 MILLION
AND
A$105 MILLION
    * SEES FY24 UNDERLYING EBITDA IN RANGE OF A$280 MILLION TO
$A290
MILLION


Further company coverage:  APM.AX 

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