Key points
- Crimson Australia extends offer closing date to 14 October 2026
- Offers $0.73 cash per share, a 62.2% premium to pre-announcement price
- Substantial shareholders have accepted the offer
- Crimson Australia intends to waive minimum acceptance condition upon acquiring 50.1% or more
- Offer provides certainty of cash consideration now
Full summary
Crimson Consulting Australia Pty Ltd, a subsidiary of Crimson Consulting Limited, has released its second supplementary bidder's statement in relation to its off-market takeover offer for Kip McGrath Education Centres Limited. The offer price remains at $0.73 cash per share, which represents a 62.2% premium to Kip McGrath's pre-announcement share price. Crimson Australia has extended the offer closing date to 7.00pm (Melbourne time) on 14 October 2026 to allow shareholders to make a fully informed decision following the annual general meeting on 29 September 2026. Substantial shareholders have accepted the offer, and Crimson Australia intends to waive the minimum acceptance condition upon acquiring 50.1% or more of Kip McGrath shares. The offer provides certainty of cash consideration now, while the Kip McGrath Board has recommended shareholders reject the offer.