Key points
- Received non-binding proposal from Roc Partners in May 2026
- Proposal rejected due to inadequate cash consideration
- Open to revised proposals that meet fair value assessment
- Strategic review ongoing; assessing River Capital proposal
- Update expected by annual general meeting on 12 November 2026
Full summary
Pacific Current Group Limited (ASX:PAC) has announced that it has rejected a non-binding conditional indicative proposal from Roc Partners, received in May 2026. The proposal was rejected as the cash consideration offered was below Pacific Current's assessment of fair value. Additionally, the scrip rollover structure would have resulted in different economic outcomes for shareholders. Pacific Current remains open to revised proposals that meet its fair value assessment. The company is progressing its strategic review, which includes assessing a proposal from River Capital, involving the potential issue of Pacific Current shares at $13.00 per share. Pacific Current is also open to engaging with all bona fide expressions of interest that could optimize value for all shareholders. An update on the strategic review is expected by the annual general meeting on 12 November 2026.
Outlook
Pacific Current will keep the market informed of any material developments in accordance with its continuous disclosure obligations.