Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

PointsBet (PBH AU): Betr's "Superior Offer"? In An Alternate Reality

PointsBet (PBH AU): Betr Firms "Superior Offer". Expect The Board To Reject. Again

PointsBet (PBH AU): Either Betr Pulls A Rabbit Out Of The Hat, Or Walks

PointsBet (PBH AU)/Betr (BBT AU): Mutual Due Diligence Proposed

Betr's "Superior Offer" For PointsBet (PBH AU) Is Questionable

PointsBet (PBH AU): MIXI Bumps To A$1.20. Betr's DD Continues

Quiddity Advisors

Event-Driven

<ul>
<li>On the 3rd June, MIXI bumped Scheme terms to A$1.20/share; and should the Scheme fail, MIXI was "willing to consider" an off-market takeover at A$1.20/share with a 50.1% acceptance hurdle.</li>
<li>
<a href="https://www.smartkarma.com/entities/pointsbet-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29102:1" rel="noopener">PointsBet (PBH AU)</a> has now <a href="https://announcements.asx.com.au/asxpdf/20250616/pdf/06ks0nz04rlcd0.pdf" target="_blank" rel="noopener">entered</a> a bid implementation deed with MIXI on the off-market Offer, conditional on the Scheme failing; which it will given <a href="https://www.smartkarma.com/entities/betr-entertainment-limited" target="_blank" data-smartkarma-citation="entities:41181:1" rel="noopener">BETR (BBT AU)</a>'s 19.9% stake.</li>
<li>And on Betr? PBH has <a href="https://announcements.asx.com.au/asxpdf/20250616/pdf/06ks0t37pxqpd5.pdf" target="_blank" rel="noopener">rejected</a> its Offer, questioning the computation of the synergies, and calling the bid materially below MIXI's.</li>
</ul>


On the 3rd June, MIXI bumped Scheme terms to A$1.20/share; and should the Scheme fail, MIXI was "willing to consider" an off-market takeover at A$1.20/share with a 50.1% acceptance hurdle.

PointsBet (PBH AU) has now entered a bid implementation deed with MIXI on the off-market Offer, conditional on the Scheme failing; which it will given BETR (BBT AU)'s 19.9% stake.
And on Betr? PBH has rejected its Offer, questioning the computation of the synergies, and calling the bid materially below MIXI's.


PointsBet (PBH AU) [Further] Backs MIXI's Offer, Rejects Betr's

PointsBet Holdings

PointsBet (PBH AU) [Further] Backs MIXI's Offer, Rejects Betr's