GTN Ltd. (AU:GTN) has released an update.
Viburnum Holdings Pty Ltd has launched an unconditional off-market takeover bid for all shares of GTN Ltd at $0.465 per share, aiming to provide liquidity and certainty to GTN’s shareholders in a market with low trading volumes. As a significant shareholder with approximately 35.6% interest, Viburnum Funds seeks to further increase its stake without a specified ownership target. The offer addresses challenges faced by GTN shareholders due to the company’s small market cap and tightly held register, offering an exit strategy without the risks associated with holding an illiquid asset.
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