Overview of off-market takeover bid by Allegra Innovations Pty Ltd

Allegra Medical Technologies Limited (ASX: $AMT) has received an off-market takeover bid from Allegra Innovations Pty Ltd (AI) for $0.004 cash per AMT Share. The Bidder's Statement has been lodged with the Australian Securities and Investments Commission. The Independent Directors of AMT unanimously recommend accepting the offer, subject to a Favourable Opinion from the Independent Expert. The offer is open until 7.00pm (AEDT) on Monday 22 July 2024, unless extended.

Executive Commentary on the Takeover Bid

Al's long-term investment horizon, private resources, and access to capital make it a logical partner to support the future development of AMT. The offer is subject to various conditions, including Al and its associates acquiring a relevant interest in at least 90% of AMT Shares then on issue. Al's intentions include continuing the development of AMT's orthopedic products and providing a strong financial platform for AMT in Australia.

Summary of Takeover Bid and Outlook

Allegra Medical Technologies Limited (AMT) has received an off-market takeover bid from Allegra Innovations Pty Ltd (AI) for $0.004 cash per AMT Share. The Independent Directors of AMT unanimously recommend accepting the offer, subject to a Favourable Opinion from the Independent Expert. Shareholders are advised to seek independent advice regarding the impact of GST on their individual circumstances. The offer is subject to various conditions, including Al and its associates acquiring a relevant interest in at least 90% of AMT Shares then on issue. Al's intentions include continuing the development of AMT's orthopedic products and providing a strong financial platform for AMT in Australia. Shareholders are encouraged to read the bidder's statement carefully before accepting the offer and seek independent advice on the impact of GST. The offer is open until 7.00pm (AEDT) on Monday 22 July 2024, unless extended.