DTI Group Ltd (ASX:DTI), a company that supports the transit industry through the engineering, delivery, and support of world-leading telematics, CCTV, video analytics, and passenger information solutions, has announced the lodgement of its Target’s Statement regarding the on-market takeover bid by Finico Pty Ltd. The independent directors of DTI have unanimously recommended that shareholders accept Finico’s offer of $0.012 cash per share, in the absence of a superior proposal and subject to the independent expert’s continuing conclusion that the offer is fair and reasonable. Finico currently holds a relevant interest of 77.09% in DTI.
The recommendation follows an assessment by Moore Australia Corporate Finance (WA) Pty Ltd, who, acting as the Independent Expert, concluded that the offer is both fair and reasonable to DTI’s non-associated shareholders. The expert’s report determined the fair value of a DTI share on a controlling basis to be between $0.007 and $0.008, positioning Finico’s $0.012 per share offer at a premium. Key reasons for the directors’ recommendation include the 20% premium over DTI’s closing price on April 13, 2026, the unconditional nature of the offer, and the certainty of cash consideration on a T+2 basis.
Furthermore, the DTI board noted the low likelihood of a competing proposal emerging, given Finico’s significant 77.09% stake, which is considered a blocking position. Shareholders were also informed that if Finico increases its relevant interest to 90%, it intends to compulsorily acquire the remaining DTI shares. The offer period for the bid commenced on April 29, 2026, and is scheduled to close at the end of trading on May 29, 2026, unless extended or withdrawn.
Shareholders are encouraged to carefully consider the information provided in the Target’s Statement, including the Independent Expert’s Report, and seek independent financial, legal, or taxation advice regarding their individual circumstances before making a decision on the offer.
