RHG Limited
(ASX:RHG) says Resimac and AMAC have made an offer for the mortgage business valued at 43 cents per share.
If completed, the overall proposal is expected to deliver a total value to shareholders including 41.5 cents per share plus a fully franked dividend of 3.5 cents.
Resimac executive director Mary Ploughman says a key requirement of the RHG board was that the transaction be an offer for the company’s shares rather than a purchase of its assets as RHG is in wind-down mode.
The proposal by Resimac and AMAC are not legally binding and will involve a scheme of arrangement.
Resimac says there is no assurance the proposal will be formally implemented.
RHG generated a net profit of $16.1 million in the first half of the current financial year.
