Brief: Readytech Holdings Receives A$4.50 Per Share Buyout Offer

Readytech Holdings

31/10/2022 22:23

Nov 1 (Reuters) - Readytech Holdings Ltd  RDY.AX :
    * RESPONDS TO MEDIA SPECULATION
    * CONFIRMS THAT IT HAS RECEIVED A CONDITIONAL, NON-BINDING
INDICATIVE PROPOSAL FROM FUNDS MANAGED OR ADVISED BY PACIFIC
EQUITY PARTNERS
    * PROPOSAL AT OFFER PRICE OF A$4.50 PER SHARE
    * DISCUSSIONS IN RELATION TO PROPOSAL ARE ON-GOING
    * NO CERTAINTY THAT THESE DISCUSSIONS WILL RESULT IN ANY
TRANSACTION
    * FUNDS MANAGED BY PEMBA CAPITAL PARTNERS CURRENTLY HOLD
32.01% OF
ISSUED SHARE CAPITAL OF READYTECH
    * NO AGREEMENT HAS BEEN REACHED BETWEEN PARTIES IN RELATION
TO
VALUE, STRUCTURE OR TERMS OF ANY TRANSACTIO
    * PROPOSAL CONTEMPLATES THAT PEP WILL GET RELIEF FROM ASIC
TO
ALLOW PEP, PEMBA TO WORK JOINTLY ON PROPOSAL

Source text for Eikon:  ID:nASX2gK0xY 
Further company coverage:  RDY.AX 
 ((Reuters.Briefs@thomsonreuters.com;))