RE: Looks like CAML may have takeover competition….20 Jun 2025 00:53
Highlights
▪ CAML has increased its offer price to A$0.053 per share, valuing New World at approximately A$197
million, a 107.5% premium to New World’s 30-day VWAP up to and including 20 May 2025.
▪ An alternative transaction structure has been agreed, with CAML to make an off-market takeover
offer in parallel with the Scheme, also at A$0.053 per share, and subject to a 50.1% minimum
acceptance condition ("Takeover Offer").
▪ CAML has committed to provide A$10.0 million in funding via a placement of new shares in New
World at A$0.053 per share (representing c.5% of New World), conditional on either no Competing
Proposal being received by New World in the next 14 days (by 5.00pm Sydney time on 4 July 2025), or
if a competing proposal is received within that time, the Directors of New World have not determined
that it is or may reasonably be expected to become a Superior Proposal.
▪ This funding enables New World to meet bonding requirements in relation to the Arizona State
Permits, driven by a faster-than-expected permitting timeline.
▪ The New World directors consider that the Scheme is in the best interests of New World
shareholders, and unanimously recommend that New World shareholders vote in favour of the
Scheme and, if the Scheme fails, accept the Takeover Offer