Xplore Wealth (ASX:XPL) has entered into a binding Scheme Implementation Agreement with HUB24 (ASX:HUB).
It is proposed that HUB24 will acquire 100 per cent of the shares in Xplore by way of scheme of arrangement between Xplore and its shareholders and 100 per cent of the options in Xplore will be cancelled by way of scheme of arrangement between Xplore and its optionholders.
Xplore shareholders to receive total value of $0.20 per share comprising 50 per cent cash and 50 per cent HUB24 shares, but with flexibility to elect to receive all cash or all shares.
The transaction values 100 per cent of Xplore equity at $60 million.
Shares in Xplore Wealth (ASX:XPL)
last traded at 7 cents.