LandMark White to acquire Taylor Byrne Holdings
LandMark White (ASX:LMW) has made an offer to acquire all of the issued shares in Taylor Byrne Holdings Pty Ltd. this morning.
The Offer Information Statement (OIS) will see shareholders in Taylor Byrne Holdings receive ordinary shares in LMW as partial consideration of their shares in the company.
Of course this remains a speculative stock and investors should seek professional financial advice if considering this company for their portfolio.
The offer opens on 10.00am AEST October 8 and will close upon the earlier of 5.00pm AEST on October 15 2018 (or upon LMW receiving valid applications for all of the Shares offered under this document).
The offer made is for total consideration value of $10.3 million, payable as:
- $5.15 million cash consideration and
- 8,583,333 shares in LMW, each at a deemed issue price of $0.60 (consideration shares)
These consideration shares will be subject to voluntary escrow arrangements, under which 25% of the consideration shares will be released at the expiry of consecutive periods of 6 months, the first of which will commence on the first anniversary of completion.
About Taylor Byrne
Taylor Byrne is a valuation and property consultancy firm operating in Queensland and New South Wales.
The company has now expanded to 25 offices, making it one of the largest single entity valuation firms in Australia.