LiveHire Ltd's response to Humanforce takeover bid

LiveHire Ltd (ASX:LVH) has extended the offer period to 11 October 2024 in response to Humanforce Holdings Pty Ltd's on-market takeover bid. Humanforce increased its voting power in LiveHire to over 50% on 27 September 2024, prompting the automatic extension of the offer period. The LiveHire Directors unanimously recommend that shareholders accept the offer and sell their LiveHire Shares to Humanforce before the offer closes on 11 October 2024.

Executive Commentary

The LiveHire Directors continue to unanimously recommend that LiveHire Shareholders ACCEPT the Offer made by Humanforce in the absence of a superior proposal. The Offer Price of $0.045 cash per LiveHire Share represents a compelling premium to the trading prices of LiveHire Shares prior to the announcement of the Offer. The Offer provides an important liquidity opportunity for LiveHire Shareholders, and no superior proposal has emerged. By not accepting the Offer, LiveHire Shareholders will remain as minority shareholders in an entity controlled by Humanforce, exposing them to risks including a fall in the price of LiveHire Shares and a reduction in liquidity.

Summary

LiveHire Ltd (ASX:LVH) has extended the offer period to 11 October 2024 in response to Humanforce Holdings Pty Ltd's on-market takeover bid. Humanforce increased its voting power in LiveHire to over 50% on 27 September 2024, prompting the automatic extension of the offer period. The LiveHire Directors unanimously recommend that shareholders accept the offer and sell their LiveHire Shares to Humanforce before the offer closes on 11 October 2024. The Offer Price of $0.045 cash per LiveHire Share represents a compelling premium to the trading prices of LiveHire Shares prior to the announcement of the Offer. The Offer provides an important liquidity opportunity for LiveHire Shareholders, and no superior proposal has emerged. By not accepting the Offer, LiveHire Shareholders will remain as minority shareholders in an entity controlled by Humanforce, exposing them to risks including a fall in the price of LiveHire Shares and a reduction in liquidity.