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Adslot Limited To Acquire Facilitate Digital Holdings Ltd


Thursday, 12 Sep 2013 07:40pm EDT 

Adslot Limited and Facilitate Digital Holdings Ltd announced they have entered into an agreement under which Adslot will acquire Facilitate Digital via a recommended scheme of arrangement between Facilitate Digital and its shareholders (Scheme). Under the Scheme, Facilitate Digital's shareholders will be offered 1.216 new Adslot shares for each Facilitate Digital share they hold. The enlarged Adslot will be approximately 28% owned by current Facilitate Digital shareholders. Following implementation of the Scheme, Geoff Dixon (the largest shareholder of Facilitate Digital) and Ben Dixon (the current CEO of Facilitate Digital) will join the Adslot board. The Scheme is unanimously recommended by the boards of both companies. Facilitate Digital has agreed to give typical deal protections to Adslot including exclusivity undertakings and payment of a break fee of AUD300,000 in certain circumstances where the Scheme does not proceed. 

Company Quote

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27 Nov 2014