Competing Takeover Proposal Withdrawn

Open PDF
Stock CYB.ASX (CYB.ASX)
Release Time 28 Jan 2025, 8:11 p.m.
Price Sensitive Yes
 Competing Takeover Proposal Withdrawn
Key Points
  • Brennan has withdrawn its non-binding, indicative and conditional proposal to acquire 100% of AUCyber's shares
  • This follows receipt of 5GN's Revised Offer earlier today
  • AUCyber is an award-winning provider of cyber security, secure private cloud and managed technology services
Full Summary

AUCyber Limited (ASX: CYB) refers to its previous ASX announcement dated 24 December 2024 regarding Brennan's non-binding, indicative and conditional proposal to acquire 100% of the ordinary shares in the Company at $0.14 cash per Share (Competing Takeover Proposal). Following receipt of 5GN's Revised Offer earlier today, Brennan has now advised the Company in writing that it has chosen to withdraw the Competing Takeover Proposal. AUCyber Limited is an Australian sovereign provider of comprehensive cyber security, secure private cloud and managed technology services. The company encompasses award-winning brands AUCyber and AUCloud, and specializes in delivering highly secure cloud infrastructure alongside managed cyber security and consulting services for prominent enterprise and government customers. AUCyber is recognized as one of the top 10 'Most Innovative Technology Companies' by the Australian Financial Review and has been named 'Employer of Choice' in the Australian Business Awards, leveraging a team of over 100 experts. The company's solutions are backed by key certifications, including the Digital Transformation Agency's Hosting Certification Framework and compliance with the Australian Signals Directorate's Information Security Manual.