APM Scheme of Arrangement Implemented
Key points
- Ancora BidCo, a subsidiary of Madison Dearborn Partners, acquires all APM shares
- Scheme Consideration paid to eligible APM shareholders
- APM to be delisted from ASX on 11 October 2024
Full summary
APM Human Services International Limited (ASX: APM) has announced that the proposed acquisition by Ancora BidCo Pty Ltd (ACN 677 569 514) (Ancora BidCo), a wholly-owned indirect subsidiary of funds managed and advised by Madison Dearborn Partners, LLC (MDP), of all of the shares of APM not already held by MDP or its affiliates, by way of a scheme of arrangement under part 5.1 of the Corporations Act 2001 (Cth) (Scheme), was implemented today. The Item 7 Transaction was also completed today. Ancora BidCo now holds all of the issued shares in the capital of APM. APM Shareholders who are entitled to receive the All Cash Consideration have today been sent an amount of $1.45 cash in respect of each APM Share held as at the Scheme Record Date. APM Shareholders who made valid Elections to receive a Scrip Consideration Option (Rolling Shareholders) have today been paid and / or issued (as applicable) their Scheme Consideration, and will be sent (either directly or to the Nominee, as applicable) a share certificate or holding statement for their unlisted scrip in Ancora TopCo (being Series A Shares and Series B Shares) to their registered address as it appears on the APM Share Register. As previously announced, trading in APM Shares on the ASX was suspended at the close of trading on Wednesday, 25 September 2024. APM intends to apply for its removal from the Official List of the ASX with effect on and from the close of trading tomorrow, Friday, 11 October 2024.
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