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Xplore Wealth - Entry into Scheme Implementation Agreement


As announced to the ASX on 28 October 2020, Xplore Wealth Ltd (ASX:XPL) (Xplore) has entered into a binding Scheme Implementation Agreement with HUB24 Limited (ASX:HUB) (HUB24) under which it is proposed that HUB24 will acquire 100% of the shares in Xplore by way of scheme of arrangement between Xplore and its shareholders (Share Scheme) and 100% of the options in Xplore will be cancelled by way of scheme of arrangement between Xplore and its optionholders (Option Scheme).

Xplore refers to today’s announcement by HUB24 advising that it has successfully completed its $50 million fully underwritten placement at a price of $20 per share. Following the completion of the Placement, HUB24 will also proceed with a Share Purchase Plan at the same price. HUB24 has advised that normal trading in its shares is expected to resume from market open today. Xplore also advises that normal trading in its shares is expected to resume from market open today.

For more information, download the attached PDF.