• 5GN now holds 50.71% voting power in AUCyber
• AUCyber Board unanimously recommends shareholders accept 5GN's revised offer
• 5GN's revised offer is 'last and final' and cannot be extended beyond 17 February 2025

5G Networks Ltd (5GN) has disclosed a voting power of 50.71% in AUCyber Limited (AUCyber), effectively taking control of the company. In response, the AUCyber Board has unanimously recommended that all AUCyber shareholders promptly accept 5GN's revised offer, which has been declared 'last and final' and cannot be further extended beyond 4:00pm (Melbourne time) on Monday, 17 February 2025. The change of control will result in AUCyber incurring transaction costs of approximately $1.9 million, which will further impact the company's cash reserves. With control now passed to 5GN, two of 5GN's representatives have been appointed to the AUCyber Board, while the existing AUCyber Directors will remain until the completion of the revised offer to ensure appropriate governance. Shareholders who do not accept the offer risk remaining as minority shareholders, with the implications magnified by the uncertain financial viability of the company pending a restructure and recapitalisation.