RPMGlobal (RUL AU): 19th Dec Vote On Caterpillar's Offer

• Back on the 13th October, RPMGlobal Holdings Limited (RUL AU), a mining software technology provider, entered into a Scheme with Caterpillar Inc (CAT US).

• Caterpillar offered A$5/share (the same as in the previously announced NBIO), a 32.8% premium to undisturbed. FIRB and ACCC approvals are conditions. FIRB won’t be an issue.

• The Scheme Booklet is now out, with a Scheme Meeting on the 19th December, and expected implementation on the 18th Feb 2026. The IE (Grant Thornton) says “fair & reasonable“.

The Trade:

• This looks clean.

• Trading tight at 2.2%/9.2% gross/annualised.

• Unless in and/or expecting a bump in terms - or a competing offer - I might be looking elsewhere.