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Company News Summary

Gateway Lifestyle Group Announces Regarding Receipt of Indicative and Non-Binding Proposal

13 Jun 2018  |  10:53:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Receipt of Indicative, Non-Binding Proposal

Gateway Lifestyle Group advised that on 12 June 2018 it received a confidential, indicative and non-binding proposal from Hometown Australia Holdings and Hometown America Communities Partnership (collectively, Hometown) to acquire 100% of the issued stapled securities of the Company at an indicative price of $2.10 per security by way of schemes of arrangement (the Proposal). The Proposal states that the indicative price would be reduced by the value of any dividends or distributions announced following receipt of the Proposal. The Proposal is subject to a number of conditions including due diligence and entering into a scheme implementation agreement subject to customary conditions and Foreign Investment Review Board approval.

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