WAM Leaders proposes off-market takeover bid for QV Equities Limited

WAM Leaders Limited (ASX: $WLE) has announced its intention to make an off-market takeover bid for all of the issued fully paid ordinary shares in QV Equities Limited (ASX: $QVE), subject to certain conditions. Under the Offer, accepting QVE shareholders will receive 1 WAM Leaders share for every 1.4675 QVE shares they own, representing $0.951 per share of implied value for QVE shareholders.

Executive Commentary on Off-Market Takeover Bid

WAM Leaders Limited is pleased to announce its intention to make an off-market takeover bid for QV Equities Limited. The proposed Offer represents a premium of 5.0% to QVE's 30 January 2024 share price, a premium of 6.3% to QVE's one-month volume weighted average price (VWAP), and a premium of 8.9% to QVE's three-month VWAP. The Offer will be subject to certain defeating conditions as outlined in Annexure A to the announcement.

Summary of Off-Market Takeover Bid

WAM Leaders Limited (ASX: $WLE) has proposed an off-market takeover bid for QV Equities Limited (ASX: $QVE), offering QVE shareholders 1 WAM Leaders share for every 1.4675 QVE shares they own, representing $0.951 per share of implied value. The Offer is subject to certain defeating conditions and will be open for acceptance for at least one month. WAM Leaders has also proposed the possibility of entering into an agreement to acquire 100% of the shares in QVE by way of a scheme of arrangement. The Offer will be further detailed in the Bidder's Statement to be sent to QVE's shareholders in accordance with the requirements of the Corporations Act.