Swoop's opposition to MaxoTel scheme and ongoing dialogue with Vonex board

Swoop Holdings Limited (ASX:SWP) has opposed the current scheme of arrangement proposed by Maxo Telecommunications Pty Ltd (MaxoTel) to acquire Vonex Limited (Vonex) at $0.0419 per Vonex share. Swoop, which acquired 19.9% of Vonex's ordinary shares, is in continuing dialogue with Vonex's board to submit an improved non-binding indicative offer for the acquisition.

Swoop's stance and future plans

Swoop Holdings Limited has confirmed its opposition to the current MaxoTel Scheme for the acquisition of Vonex Limited. The company is actively engaged in discussions with Vonex's board to present an enhanced non-binding indicative offer for the acquisition. Swoop will provide further updates to its shareholders as the situation progresses.

Summary of Swoop's position and outlook

Swoop Holdings Limited (ASX:SWP) has expressed its opposition to the current scheme of arrangement proposed by Maxo Telecommunications Pty Ltd (MaxoTel) for the acquisition of Vonex Limited (Vonex). The company has acquired 19.9% of Vonex's ordinary shares and is in ongoing dialogue with Vonex's board to submit an improved non-binding indicative offer for the acquisition. Swoop aims to keep its shareholders informed as the matter develops, and the company's future actions will depend on the progress of the discussions with Vonex's board.