• Trimantium GrowthOps Limited (“TGO” or “GrowthOps”) [ASX:TGO] has entered into a bid implementation agreement (“BIA”) with Asia Pacific Digital Limited (“Asia Pacific Digital” or “APD”) [ASX:DIG] under which GrowthOps will make an off-market takeover bid to acquire 100% of the fully paid ordinary shares of APD (“Offer”).
• Based on the TGO closing price on 14 June 2018 of $1.23 per share, the Offer consideration equates to $0.14 per APD share, and values APD equity at approximately $20m, representing a premium of 133% to the closing price of APD’s shares on 14 June 2018.
• APD is one of few independent, publicly traded digital transformation companies in the Asia Pacific region, employing approximately 300 professionals in offices across Singapore, Malaysia, the Philippines, Australia and New Zealand.
• GrowthOps’ proposed acquisition of APD will help to cement GrowthOps’ position as an independent, regional provider of integrated consulting, creative and technology-driven services with the scale and local market experience to serve multinational corporate and government clients.
• The expansion of its technology services and geographic footprint within the Asia Pacific market will diversify GrowthOps’ client base and strengthen its competitive edge against global players that operate in the region.
• APD directors unanimously recommend APD’s shareholders to accept the Offer, in the absence of a Superior Proposal.
• North Ridge Partners Pty Ltd, plus other parties with shareholder intent statements and each of their respective Associates2, which together hold or control approximately 75.8% of APD’s total shares, have each indicated they intend to accept the Offer, in the absence of a Superior Proposal.
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