Vista Group International Ltd (AU:VGL) has released an update.
Admetus Capital Limited has become a substantial holder in Vista Group International Ltd, acquiring 18.456% of the company’s shares with a total investment of NZ$92.1 million. The shares were purchased at NZ$2.10 each, with some directly from current holders and others via Jarden Securities Limited, with various settlement dates. Admetus has also agreed to an escalation payment arrangement with the sellers if a takeover offer or scheme arrangement occurs within 12 months at a price higher than the acquisition.
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