Schrole Group Ltd. (AU:SCL) has released an update.
Schrole Group Ltd has announced a definitive agreement for TES Aus Global Pty Limited to acquire all issued shares of Schrole at a substantial premium, offering shareholders a cash price of 48.52 cents per share. The acquisition values Schrole at approximately $18.15 million, marking a significant premium over recent trading prices, and is expected to close by September 2024 upon shareholder and court approval. The Board has unanimously recommended shareholders to vote in favor of the transaction, which is not contingent upon financing or due diligence conditions.
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