Elph Investments Pty Ltd has increased its off-market takeover bid for Engenco Limited (ASX:EGN), raising the offer price from $0.305 to $0.31 per share. This revised offer is outlined in Elph Investments’ First Supplementary Bidder’s Statement, lodged with the ASX on June 4, 2025. The increased offer price is final and will not be increased under any circumstances.
The offer extends to all Engenco shareholders, including those who have already accepted the initial offer. The decision reflects Elph Investments’ commitment to acquiring all ordinary shares in Engenco. Dale Elphinstone AO, Director of Elph Investments, approved the supplementary statement.
Elph Investments has varied the Offer by substituting “$0.305” with “$0.31” in all places it appears (or is deemed to appear) in the Bidder’s Statement, the Acceptance Forms enclosed with the Bidder’s Statement and in all other instances where “$0.305” appears (or is deemed to appear) as the Offer Price.
The maximum cash required to settle acceptances at the increased price is approximately $30.8 million, fully funded via an intragroup loan deed with Elphinstone Holdings.
