SWF.ASX: Update in relation to competing acquisition proposals

Update in relation to competing acquisition proposals

Stock	Selfwealth Ltd (SWF.ASX)
Release Time	20 Feb 2025, 1:28 p.m.
Price Sensitive	Yes

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SelfWealth Provides Update on Competing Acquisition Proposals

Key Points

Engagement with Svava Pte Ltd on non-binding $0.28 per share proposal
Commenced statutory process for $0.25 per share scheme with Bell Financial Group
Scheme Meeting scheduled for 28 March 2025 for shareholders to vote on Bell proposal

Full Summary

SelfWealth Ltd (ASX:SWF) has provided an update on the competing proposals for the acquisition of the company. The first proposal is from Bell Financial Group (ASX:BFG) for a consideration of $0.25 cash per SelfWealth share, with a Bell share consideration alternative. The second proposal is a non-binding indicative offer from Svava Pte Ltd for $0.28 cash per SelfWealth share. Both proposals are by way of scheme of arrangement. SelfWealth is actively engaging with Svava, but the proposal remains non-binding and indicative. The company is required to go through a matching rights process with Bell before it can accept or recommend the Svava proposal. In compliance with its obligations, SelfWealth has commenced the statutory process for the proposed scheme with Bell. The Federal Court has ordered SelfWealth to convene a Scheme Meeting on 28 March 2025 for shareholders to consider and vote on the Bell proposal. The Scheme Booklet, including the Independent Expert's report, will be released and sent to shareholders. SelfWealth will provide further updates on the Svava proposal and its implications for the Bell scheme.