• 360 Capital Group receives new on-market takeover offer from TT Investments
• Offer price of $0.31 per stapled security, same as previous off-market offer
• Independent Board Committee unanimously recommends accepting the offer in absence of superior offer

360 Capital Group (ASX:TGP) has received an announcement from TT Investments and its associates lodging a bidder's statement for an unconditional on-market takeover bid for all securities in 360 Capital Group that TT Investments does not currently own. The offer price is $0.31 cash per stapled security, which is the same as the consideration paid under TT Investments' previous off-market takeover offer. The 360 Capital Group's Independent Board Committee (IBC), chaired by Non-Executive Director and Deputy Chairman David van Aanholt, has met to consider the new takeover offer. Given the consideration under this new takeover is identical to the previous offer and the 360 Capital business has not changed, the IBC is maintaining its unanimous recommendation that TGP securityholders should accept the new takeover offer by TT Investments in the absence of a superior offer. The IBC notes that the Independent Expert, Grant Thornton, previously concluded the offer by TT Investments was fair and reasonable to securityholders in the absence of a superior offer. Additionally, the IBC has determined to suspend the proposed Minimum Holding Buy-back of unmarketable parcels of securities, with eligible securityholders no longer able to participate unless the Board determines otherwise.