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  • Keybridge Capital (KBC) has received an off-market cash takeover bid from Aurora Dividend Income Trust (ADIT)
  • Just last week WAM Active offered to purchase the company
  • ADIT offered 6.6 cents per share, just 0.1 cents more than WAM
  • The company has not traded on the ASX since being suspended on July 16, 2019 with shares last trading for 7.1 cents

Keybridge Capital (KBC) has received an off-market cash takeover bid from Aurora Dividend Income Trust (ADIT).

Just last week WAM Active offered to also purchase the company with ADIT offering 6.6 cents per share, just 0.1 cents more than WAM.

“Keybridge is presently considering this notice in conjunction with the previous cash bid for its shares made by WAM,” the company told the market this morning.

The bid represents an 8.9 per cent premium to Keybridge’s most recent net tangible asset backing of 6.06 cents per share as of October 31, 2019.

The bid gives Keybridge shareholders the ability to sell their shares off-market for cash consideration at a premium to its most recent NTA and WAM Active’s takeover offer.

Investors in ADIT and Keybridge have been told they do not need to take any action in relation to the bid at the present time.

Keybridge is an investment and financial service group with assets in private equity, life insurance, and property and funds management sectors.

It also has strategic holdings in HHY Fund, Molopo Energy, Metgasco and Yowie Group.

Keybridge has not traded on the Australian Securities Exchange (ASX) since being suspended on July 16, 2019 with shares last trading for 7.1 cents apiece.

KBC by the numbers
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