Vonex Takeover Bid Extension

Vonex (ASX:VN8) has announced an extension of its takeover offer by Maxo Telecommunications Pty. Ltd. The offer, now extended until 2 January 2025, aims to acquire all ordinary shares of Vonex not already owned by MaxoTel. This follows MaxoTel's voting power increase to over 50% as of 18 December 2024.

Summary of Vonex Takeover Offer Extension

Maxo Telecommunications Pty. Ltd. has extended its on-market takeover bid for Vonex Limited, now set to close on 2 January 2025. This extension followed an increase in MaxoTel's voting power in Vonex to over 50%, automatically triggering the extension as per legal requirements. The extension provides Vonex shareholders with more time to assess the offer. The bid aims to acquire all fully paid ordinary shares of Vonex that MaxoTel does not currently own. The move complies with relevant regulations and was authorized by Alex Rich, the sole director of MaxoTel. All related announcements are available on the ASX website. This development is a significant step in MaxoTel's strategic acquisition process of Vonex Limited.

Executive Commentary on Offer Extension

The extension allows shareholders additional time to consider the offer, which aims to acquire all ordinary shares of Vonex that MaxoTel does not already own or control.