Introduction to Bell Financial Group's proposal

Bell Financial Group (ASX:BFG) has made a revised proposal to acquire 100% of SelfWealth Ltd's shares at $0.25 per share. This offer values SelfWealth at approximately $58 million, representing a 108% premium over its last closing share price. The SelfWealth Board has unanimously supported this proposal, pending no superior offers and a favorable independent expert report.

Overview of the acquisition proposal and strategic outlook

Bell Financial Group has enhanced its offer to acquire SelfWealth, proposing a cash payment of $0.25 per share, with an optional alternative to receive Bell's shares under certain conditions. This proposal values SelfWealth at about $58 million, significantly higher than its previous market valuation. The SelfWealth Board supports this offer, provided no superior proposals emerge and conditional on shareholder and court approvals. A scheme meeting is planned for March 2025, where shareholders will vote on the proposal. The Scheme Implementation Deed (SID) signed by both parties outlines terms and conditions, including exclusivity obligations, break fees, and procedures for competing proposals. A break fee of $577,000 may apply to SelfWealth under certain conditions, while Bell might incur a reverse break fee of $1,154,000. The upcoming scheme booklet will provide shareholders with comprehensive details and rationale for the Board's recommendation.

Executive insights on the acquisition proposal

The SelfWealth Board has undertaken a thorough review of the revised proposal and believes it represents compelling value for SelfWealth shareholders. The Board unanimously recommends that shareholders vote in favor of the scheme, in the absence of a superior proposal and subject to the independent expert concluding that the scheme is in the best interests of SelfWealth shareholders.