Pacific Smiles Group Limited (ASX: $PSQ) has received a revised all-cash offer from NDC BidCo Pty Ltd to acquire all its shares for $2.05 per share through a scheme of arrangement. However, Genesis Capital has expressed its intention to vote against the NDC Scheme as currently proposed, following the revised terms. The Pacific Smiles Board continues to recommend shareholders to vote in favor of the NDC Scheme, provided no superior proposal emerges and the Independent Expert's conclusion remains unchanged.
Genesis Capital has decided to vote against the NDC Scheme at the proposed $2.05 per share, citing the revised terms as the basis for their decision. Despite this opposition, Pacific Smiles Group's Board maintains its recommendation for shareholders to support the NDC Scheme, emphasizing the importance of shareholder votes in determining the scheme's outcome.
Pacific Smiles Group faces resistance from Genesis Capital regarding the NDC Scheme, despite the Board's continued endorsement. Shareholders are encouraged to vote in favor of the NDC Scheme, with the outcome dependent on their support. The company's future actions may be influenced by the shareholders' decision and any potential superior proposals that may arise.