Update in relation to competing acquisition proposals

Open PDF
Stock Bell Financial Group Ltd (BFG.ASX)
Release Time 20 Feb 2025, 1:28 p.m.
Price Sensitive Yes
 Update on competing acquisition proposals for SelfWealth
Key Points
  • SelfWealth received acquisition proposals from Bell Financial Group and Svava Pte Ltd
  • Bell Financial Group's proposal is for $0.25 cash per share or a Bell share alternative
  • Svava's proposal is for $0.28 cash per share, but is non-binding and indicative
Full Summary

SelfWealth Ltd (ASX:SWF) has provided an update on the competing proposals for the acquisition of the company. The two proposals are:1. A proposal by Bell Financial Group (ASX:BFG) for consideration of $0.25 cash per SelfWealth share, with a Bell share consideration alternative at SelfWealth shareholders' election.2. A non-binding indicative proposal by Svava Pte Ltd for consideration of $0.28 cash per SelfWealth share, announced on 3 February 2025.Both proposals are by way of scheme of arrangement. SelfWealth is actively engaging with Svava in relation to its proposal, but it remains non-binding and indicative, and there is no guarantee it will result in a binding proposal. In compliance with its contractual obligations under the Scheme Implementation Deed with Bell, SelfWealth has commenced the statutory process for the proposed scheme of arrangement with Bell. The Federal Court of Australia has made orders for SelfWealth to convene and hold a meeting of SelfWealth shareholders on 28 March 2025 to consider and vote on the Bell scheme. The Scheme Booklet, including an Independent Expert's report, will be released to the ASX and sent to shareholders.