Australia's Damstra set for best day in 3 months on takeover scheme implementation

Damstra Holdings

29/01/2024 01:07

** Shares of Damstra Holdings  DTC.AX  rise as much as 13.6%
to A$0.230, their highest level since Nov 9, 2023
    ** Stock on track for best day since Oct 25, if gains hold
    ** The workplace management solutions provider entered
scheme implementation deed with Ideagen
    ** Co says directors, who in aggregate hold or control
approximately 19.7% of co's shares as at date of announcement,
intend to vote in favour of scheme
    ** Adds scheme consideration represents an equity value (on
a fully diluted basis) of about A$69.1 mln($45.45 mln)
    ** More than 3.9 mln shares change hands, compared with the
30-day average volume of 190.045 shares
    ** Stock has risen 6.6% this year, as of last close

    ($1 = 1.5202 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))