AFS announces on-market takeover offer for Dynamic Group Holdings Limited (DDB)

Australian Meat Industry Superannuation Pty Ltd (AFS) has announced an on-market takeover offer for all shares in Dynamic Group Holdings Limited (DDB) not owned by AFS. AFS, with a 19.87% interest in DDB, is offering $0.28 cash per share, representing a 19.15% premium to the closing price of DDB shares on 25 July 2024. The offer period commences on 9 August 2024, and shareholders can sell their shares on-market to AFS from the announcement date. AFS has appointed FinClear Execution Limited as its broker for the offer.

AFS's intentions and offer details

AFS encourages DDB shareholders to carefully read its bidder's statement before deciding whether to accept the offer. The offer is unconditional and provides certain and immediate value for DDB shares through a 100% cash consideration payable on a T+2 basis. AFS has engaged Gadens Lawyers as its legal adviser for the offer. AFS intends to continue the business of DDB and review its capital structure if it acquires 50.1% or more of DDB shares.

Summary of AFS's on-market takeover offer for DDB

Australian Meat Industry Superannuation Pty Ltd (AFS) has made an on-market takeover offer for all shares in Dynamic Group Holdings Limited (DDB) not owned by AFS. The offer of $0.28 cash per share represents a 19.15% premium to the closing price of DDB shares on 25 July 2024. AFS encourages DDB shareholders to carefully read its bidder's statement before deciding whether to accept the offer. The offer is unconditional and provides certain and immediate value for DDB shares through a 100% cash consideration payable on a T+2 basis. AFS has appointed FinClear Execution Limited as its broker for the offer. AFS intends to continue the business of DDB and review its capital structure if it acquires 50.1% or more of DDB shares. Shareholders are advised to refer to the bidder's statement and seek professional advice before making a decision.