In today’s briefing:
- QV Equities (QVE AU) Backs WAM Leaders’ Cash/Scrip Offer
- Volpara Health (VHT AU): 12th April Shareholder Vote
- Volpara Health (VHT AU): Scheme Vote on 12 April
- Qantm Weighs Rouse’s And Adamantem’s Proposals
QV Equities (QVE AU) Backs WAM Leaders’ Cash/Scrip Offer
- Back on the 31 Jan, WAM Leaders Ltd (WLE AU), said it intended to make an off-market Offer after QV Equities Ltd (QVE AU) rejected its all-scrip NBIO.
- WAM and QVE have now entered into a Scheme. The current scrip terms are 0.7609 new WAM shares per QVE share; OR A$1.02/share cash. Terms will be adjusted …
- … in accordance with the most recently released NTA/shares of WAM and QVE. QVE shareholders are also expected to receive the quarterly dividend of A$0.013/share.
Volpara Health (VHT AU): 12th April Shareholder Vote
- On the 14 December, Volpara Health (VHT AU), which makes software enabling the early detection of breast cancer, announced an Offer by way of a Scheme with Lunit (328130 KS)
- NZ’s OIO approval was satisfied on the 31 January. The Scheme Booklet is now out, with a Scheme Meeting to be held on the 12th April.
- Lunit is offering Volpara shareholders A$1.15/share, in cash, a 47.4% premium to last close. Cornerstone investors with 25.92% of shares out are supportive. The IE says terms are fair.
Volpara Health (VHT AU): Scheme Vote on 12 April
- The Volpara Health Technologies (VHT AU) IE considers Lunit (328130 KS)‘s A$1.15 offer fair and reasonable as it is above its A$0.67-0.82 per share valuation range.
- NZ OIO approval has been received. The scheme is conditional on shareholders’ approval by more than 75% of votes cast and more than 50% of shareholders.
- The scheme vote will get up as the offer is attractive vs. historical trading ranges. At the last close and for the 21 May payment, the gross/annualised spread was 2.2%/13.0%.
Qantm Weighs Rouse’s And Adamantem’s Proposals
- On the 27th Feb, Qantm Intellectual Property (QIP AU) announced a NBIO from UK-based Rouse International; but opted not to disclose price, DD, or even if this was a cash/scrip Offer.
- Then on the 12th March, Qantm announced a NBIO from Adamantem Capital, by way of a Scheme, of $1.817/share in cash or with a scrip election of up to 50%
- Qantm secured a trading halt yesterday morning, presumably to flesh out the best Offer for shareholders. Will IPH Ltd (IPH AU) throw its hat into the ring, again?
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