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Aurora Dividend Income Trust (ADIT) intends on making an off-market scrip takeover bid for all the shares in 8IP Emerging Companies Limited.

Each shareholder of 8EC [who accepts the bid] will receive ADIT units of $0.75. If Aurora receives enough acceptances, 8EC investors can exit its investment for a price equal to the net tangible asset value. That is if the total interest is greater than 50 per cent at closing.

The directors of Aurora believe by combining both its operations and investors it may benefit from increased scale, liquidity and a lower expense ratio.

Action by investors and unitholders is unnecessary at this present time as key events during the bid process will not commence until early May, with the official bid opening in Mid-May and officially closing (unless extended) by early July.

Click here to view the full announcement.

8EC by the numbers
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