Locality Planning Energy Holdings Limited (ASX: $LPE) has received an increased offer price of 10.5 cents per share from River Capital in the unsolicited off-market takeover bid. River Capital has also waived all defeating conditions to the offer and reduced the payment terms within 7 business days of acceptance. LPE shareholders are advised to take no action until the LPE Board releases its formal recommendation and reasons for that recommendation.
The LPE Board advises shareholders to refrain from taking any action in response to the increased offer from River Capital until the Board releases its formal recommendation and reasons for that recommendation. The Board will continue to keep shareholders informed of any key developments and aims to update its formal recommendation as soon as possible.
Locality Planning Energy (ASX: $LPE) has received an increased offer price of 10.5 cents per share from River Capital in the unsolicited off-market takeover bid. River Capital has waived all defeating conditions to the offer and reduced the payment terms within 7 business days of acceptance. LPE shareholders are advised to take no action until the LPE Board releases its formal recommendation and reasons for that recommendation. The Offer must remain open until 7.00pm (AEST) on 5 July 2024, providing shareholders sufficient time to wait for the LPE Board's recommendation in the supplementary target's statement before making a decision. If shareholders accept the Offer, they will not be able to withdraw their acceptance. The LPE Board will continue to keep shareholders fully informed of any key developments and will seek to update its formal recommendation as soon as possible.