Genesis Capital's Bid for Pacific Smiles Shares

Genesis Capital (ASX:PSQ) through its associate, Bidco, has announced an off-market takeover bid to acquire all the ordinary shares in Pacific Smiles Group Limited. The bid offers a choice of $1.90 per share in cash, 1 Holdco Share per share, or 47.5 cents cash and 0.75 Holdco Shares per share.

Key Reasons for Accepting the Offer

The key reasons for Pacific Smiles shareholders to accept the Offer include the material premium represented by the Cash Offer Price relative to historical trading of Pacific Smiles shares, the certainty of value provided by the Cash Offer Price, and the option to participate in the Scrip Offer or the Mixed Offer, which provides an opportunity to retain an indirect investment in Pacific Smiles alongside an experienced healthcare investor. Additionally, there are no stamp duty or brokerage fees payable in accepting the Offer.

Summary of the Offer and Next Steps

Genesis Capital's associate, Bidco, has announced an off-market takeover bid to acquire all the ordinary shares in Pacific Smiles Group Limited. The bid offers a choice of $1.90 per share in cash, 1 Holdco Share per share, or 47.5 cents cash and 0.75 Holdco Shares per share. Shareholders are advised to carefully consider the Bidder's Statement before deciding whether or not to accept the Offer. The Offer is subject to a 90% minimum acceptance condition, a Pacific Smiles Board recommendation condition, and a customary no prescribed occurrences condition. Jarden Australia Pty Ltd is acting as financial adviser and Clifford Chance is acting as legal adviser to Bidco in relation to the Offer.