Finico Pty Ltd, acting as trustee for The Morris Family Trust, has confirmed its intention not to extend the unconditional cash offer for shares in DTI Group Limited (ASX: DTI). The offer period is set to conclude at the close of trading on the ASX on May 29, 2026. Finico currently holds more than 75% but less than 90% of the fully paid ordinary shares in DTI.
Should Finico’s shareholding remain within this range at the offer’s close, the Bidder intends to replace all current members of DTI’s board of directors with its own appointments. Furthermore, Finico plans to request that the new DTI Board review the benefits and suitability of DTI remaining listed on the ASX. If the Board determines that delisting is in DTI’s best interest, Finico would support a resolution to remove DTI from the Official List. Finico currently has no plans for a future on-market offer for DTI shares but preserves the right to do so, noting its ability to increase holdings is limited by the Corporations Act 2001 (Cth).
If, however, Finico acquires 90% or more of DTI shares by the end of the offer period and is entitled to proceed with compulsory acquisition, its intentions differ. In this scenario, Finico would still replace all current DTI Board members with its own appointments. It would then proceed with the compulsory acquisition of the remaining DTI shares in accordance with the Corporations Act and arrange for DTI to be removed from the Official List of ASX following the conclusion of that process. Shareholders are advised to refer to section 7 of Finico’s Bidder’s Statement, published on April 14, 2026, for further information.
