News and Announcements
Macquarie’s Offer To Bulletproof Group Limited (ASX: BPF)
- Published November 24, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Macquarie Telecom Group Limited offers A$0.11 cash per share to Bulletproof Group Limited (ASX: BPF)
- Bulletproof’s share capital sits at approximately A$17.9 million.
- This is a step in strengthening Bulletproof’s strategic fit with Macquarie.
As of November 21, 2017, Macquarie Telecom Group Limited (ASX: MAQ) declared its plan to create an off-market bid via its wholly-owned subsidiary Macquarie Cloud Services Pty Ltd to gain all of the shares with a marked offer of A$0.11 cash per share to Bulletproof Group Limited (ASX: BPF). Macquarie’s engrossment with the Bulletproof shares amounting to 26,188,349 denoting an issued capital of 16.11% through a Call Option Deed with the linked entity correlating namely Mr Anthony Woodward, CEO and Co-founder of Bulletproof.
Bulletproof’s value of share capital currently at A$17.9 million matches the closed offer price worth A$0.11. This comprises of a 64.2% premium to Bulletproof’s closing rate for its shares of A$ 0.067 last November 17, 2017, and a 57.1% premium to the 1-month VWAP of Bulletproof shares valued at A$ 0.07. The conditional offer of Macquarie involves these four citations:
“Macquarie reaches at least 90% acceptance; there being no prescribed occurrences, no material asset, sales, or acquisitions, no material borrowing commitments, or the grant of a security interest over Bulletproof’s assets or undertaking; and no material adverse change in the business conditions or financial prospects of Bulletproof.”
The complete terms and conditions will be released to the Bulletproof shareholders in early December.
Mr David Tudehope, CEO of Macquarie, expresses his statement: “The proposal to purchase to all of the Bulletproof’s shares for cash is clearly compelling and offers a significant premium to the recent share price performance. Bulletproof has experienced a deterioration of earnings over the last 18 months. Bulletproof is a long-standing business with a talented and experienced team. There is a strong strategic fit with Macquarie. The combination will enable Macquarie and Bulletproof customers to access a full set of cloud options of colocation, private cloud and public cloud. We believe it is in the interests of Bulletproof shareholders to accept the Macquarie Offer”.
About Bulletproof Group Limited (ASX: BPF)
Bulletproof simplifies complex technology and enables rapid transformation for businesses of all sizes. Our certified and experienced Cloud experts advise and support organisations at every step in their cloud journey, by providing market-leading expertise and mission-critical support across multiple platforms and technologies.
Company Updates
500 Million Episodes, Limited Treatment: How Patrys is Bridging the Gap in an Underserved Market
In the clinical vocabulary of the Intensive Care Unit, there is perhaps no word that carries as much quiet dread as delirium. It is a “chemical storm” of the brain—an acute dysfunction where the delicate balance between calming and activating signals is scrambled. For the patient, it can be a waking nightmare of hallucinations and […]
The Light Fantastic: Why Invion’s Photodynamic Therapy May Be Attracting Big Pharma’s Attention
Invion Limited is challenging the status quo in oncology with its Photosoft™ platform, a precision therapy that uses light-activated molecules to selectively target cancer cells. By transforming the body’s own immune response and addressing the high costs of current cancer treatments, Invion is positioning itself as a transformative player in the biotech sector. With clinical trials underway and strong institutional partnerships, the company is bridging the gap between scientific breakthrough and accessible, scalable patient care.
From Outback to Boardroom: How SWAN Systems is Codifying Water Stewardship
From the arid deserts of Australia to the boardrooms of global tech giants, SWAN Systems is redefining water efficiency. By bridging the gap between field-level agronomics and autonomous irrigation control, the company is proving that “water-positive” targets can be met with science, data, and a 10x ROI commitment.
Backed By Leading Investment Groups and Family Offices
