Close of On-Market Takeover Offer
| Stock | 5G Networks Ltd (5GN.ASX) |
|---|---|
| Release Time | 18 Feb 2025, 10:15 a.m. |
| Price Sensitive | Yes |
5G Networks Closes On-Market Takeover Offer for AuCyber
- 5G Networks Ltd (5GN) closed its on-market takeover offer for 100% of AuCyber Ltd (CYB)
- 5GN has a relevant interest and voting power in 89.685% of CYB's shares
- 5GN will not be able to proceed with compulsory acquisition of remaining CYB shares
5G Networks Limited (5GN) has announced the close of its on-market takeover offer for 100% of the ordinary shares in AuCyber Limited (CYB). The offer closed at 4.00pm (Melbourne Time) on 17 February 2025 pursuant to the terms of the offer. As at the close of the offer, 5GN has a relevant interest and voting power in 89.685% of CYB's shares. Because 5GN has a relevant interest in less than 90% of CYB's shares, 5GN will not be able to proceed with compulsory acquisition of the remaining CYB shares under section 661A of the Corporations Act 2001 (Cth). 5GN is an Australian owned digital services company that empowers more than 2,500 corporate clients to grow and thrive online. The company's portfolio of digital services includes cloud, data networks, data centres, managed IT services, and digital marketing.