AVJennings (AVJ AU): AVID's Firm Offer As Ho Bee Walks

Apr 01, 2025

∙ Paid

The AVID consortium's late-November A$0.67/share NBIO appeared a lock; until Ho Bee Land Ltd (HOBEE SP) lobbed a A$0.70/share NBIO in January. Ho Bee also acquired a 5.39% stake.
AVJennings (AVJ AU) granted both suitors exclusive due diligence, the terms of which expired in February. AVJ said at the time it remained in "active discussions" with both.
AVJ and AVID have now entered into a Scheme Implementation Deed at A$0.655/share. A special dividend - included in the Scheme consideration - could add A$0.072/share in franking credits.

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