Suzerain Investment Holdings Ltd has announced that its off-market takeover bid for Entertainment Rewards Limited (ASX:EAT) is now unconditional. Suzerain, an investment firm, is seeking to acquire all fully paid ordinary shares in Entertainment Rewards Limited that it does not already own. Entertainment Rewards Limited is an ASX-listed company in the rewards and incentives sector.
According to the notice of status of conditions, as of December 12, 2025, all remaining defeating conditions were removed from the offer. As a result, the offer and each contract resulting from acceptance of the offer are now unconditional. This update follows Suzerain’s initial bidder’s statement released on October 28, 2025.
As of the date of the announcement, Suzerain’s voting power in Entertainment Rewards Limited stands at 96.95%, comprising 1,268,847,366 EAT shares out of a total of 1,308,786,015 EAT shares currently on issue. This figure includes acceptances of offers made by Suzerain under its off-market takeover bid.
The offer is scheduled to close at 7:00 PM (Sydney time) on Wednesday, December 31, 2025, unless extended in accordance with the Corporations Act. The announcement was authorised for release by Daniel Nicolaas Breed, for Lawswood Corporate Limited, the director of Suzerain.
