Vonex Limited (AU:VN8) has released an update.
Vonex Limited has increased its takeover offer for MaxoTel to 4.19 cents per share, a substantial premium over the previous closing prices, offering shareholders a 100% cash payout. Despite a competing, non-binding proposal from Swoop to acquire Vonex, the Vonex Board recommends shareholders to accept the MaxoTel offer, noting it provides greater certainty and value. Vonex is preparing a supplementary Scheme Booklet to provide shareholders with updated information on the revised offer and voting procedures.
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