Qoria Limited's Rejection of K1's Proposal

Qoria Limited (ASX: $QOR) has unanimously rejected an unsolicited, conditional, and non-binding indicative proposal from K1 Investment Management, LLC to acquire 100% of its issued share capital for $0.40 cash per share. The proposal, subject to various conditions, has been deemed significantly undervaluing Qoria by the board.

Qoria Board's Analysis of the Indicative Proposal

The Qoria Board has carefully considered the Indicative Proposal and consulted with its external financial and legal advisers. The Board unanimously concluded that the proposal significantly undervalues Qoria and is not in the best interests of shareholders. The Board highlighted Qoria's position as the global leader in child safety and wellbeing, its strong growth prospects, and the opportune timing of the proposal as reasons for the rejection. The Board does not intend to engage with K1 in respect of the Indicative Proposal.

Qoria's Outlook and Advisory

Qoria remains focused on maximizing value for all shareholders and will continue to keep the market informed of any material developments. The company has appointed RBC Capital Markets and Azure Capital Pty Ltd as financial advisers and Thomson Geer as legal adviser. Shareholders are cautioned not to place undue reliance upon such a proposal emerging and do not need to take any action in relation to the Indicative Proposal. Qoria's management expects the company to be profitable on a monthly Cash EBITDA basis in CY2024.