Total
0
Shares
Alf Ribeiro / Shutterstock.com
Market Herald logo

Subscribe

Be the first with the news that moves the market

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
More From The Market Herald
ISX (ASX:ISX) - Managing Director, John Karantzis

" iSignthis (ASX:ISX) completes demerger

Software company iSignthis (ISX) has completed the demerger of its European business ISC Financial EU (ISXFEU).
MoneyMe (ASX:MME) - CEO, Clayton Howes

" MoneyMe (ASX:MME) hits $1b originations milestone

MoneyMe is celebrating after hitting a $1 billion in originations milestone during the recent September quarter of the 2021 financial year.
PayGroup (ASX:PYG) - Managing Director, Mark Samlal

" PayGroup (ASX:PYG) releases strong September results and FY22 guidance

PayGroup (PYG) is releasing its annual recurring revenue (ARR) guidance for the 2022 financial year.
Zip Co (ASX:Z1P) - Global CEO and Cofounder, Larry Diamond

" Zip Co (ASX:Z1P) announces record September quarter

Zip Co’s (Z1P) share price has risen as it announces a record September quarter.