Selfwealth Ltd (ASX: SWF) has provided an update on the competing takeover proposals for the company, with shareholders set to vote on one offer while another remains under negotiation.
Selfwealth is currently considering two proposals:
- Bell Financial Group (ASX: BFG) has offered $0.25 per share in cash, with an option for shareholders to receive Bell shares instead.
- Svava Pte Ltd has submitted a non-binding, indicative proposal of $0.28 per share in cash, which is still subject to further discussions.
While Selfwealth is engaging with Svava, its proposal remains non-binding. Under the existing Scheme Implementation Deed with Bell, Selfwealth must allow Bell the opportunity to match or improve its bid if Svava formalises its offer.
Bell Scheme Moves Forward
Meanwhile, the Federal Court of Australia has approved Selfwealth’s plan to convene a shareholder vote on the Bell offer, scheduled for 28 March 2025. The company will distribute an explanatory booklet outlining the proposal, including an independent expert’s report.
If Selfwealth receives a binding offer from Svava, the company will update shareholders no later than 14 days before the Bell vote.
