BirdDog Technology has postponed its shareholder meeting to July 22, raising its share buy-back price by 40% to 7 cents ahead of a proposed ASX delisting. Major shareholders back the move, signaling strong support for the company’s exit plan.
- Extraordinary General Meeting postponed to July 22, 2025
- Share buy-back price increased from 5 cents to 7 cents per share
- Buy-back price represents over 100% premium to recent trading prices
- Three institutional shareholders holding 16.9% support delisting and buy-back
- Updated meeting materials and expert reports released to shareholders
Postponed Meeting and Revised Buy-Back Price
BirdDog Technology Limited, a specialist in broadcast-quality video solutions, has announced a significant update to its planned exit from the Australian Securities Exchange (ASX). The company has postponed its Extraordinary General Meeting (EGM) to July 22, 2025, to seek shareholder approval for its voluntary delisting and an off-market share buy-back.
Crucially, BirdDog has increased the buy-back price by 40%, from 5 cents to 7 cents per share. This revised price offers shareholders a substantial premium, 126% above the last closing price before the delisting announcement and more than 100% above recent volume-weighted average prices. This move appears designed to address shareholder concerns and incentivize participation in the buy-back ahead of the delisting.
Shareholder Support and Voting Details
Backing the proposal, three major institutional shareholders representing nearly 17% of BirdDog’s shares have publicly committed to voting in favor of both the delisting and the buy-back resolutions. They also intend to fully participate in the buy-back, signaling confidence in the company’s strategy and the revised price offer.
Shareholders are reminded that previous proxy votes submitted before this announcement are void, and updated proxy forms reflecting the new buy-back price and timetable must be submitted by 9 – 00am AEST on July 20, 2025. The company has issued an updated Notice of Meeting, an Independent Expert’s Report, and proxy forms to assist shareholders in making informed decisions.
Timetable and Next Steps
The updated timetable sets the EGM for July 22, with the share buy-back offer expected to open on August 1 and close on August 19. The anticipated delisting date is August 29, following suspension of trading on August 27. These dates remain indicative and subject to change, but they provide a clear roadmap for BirdDog’s transition off the ASX.
BirdDog’s decision to increase the buy-back price could be seen as a strategic effort to smooth the path for shareholder approval and reduce potential resistance. The company’s focus on delivering value to shareholders during this transition phase will be closely watched by the market.
Context and Market Implications
BirdDog operates in the niche but growing broadcast video technology sector, offering products that enable high-quality video transmission over networks. The delisting and buy-back move may reflect a strategic pivot or a desire to restructure ownership away from public market pressures. For investors, the premium buy-back price offers an attractive exit, but the loss of liquidity post-delisting introduces new considerations.
As BirdDog prepares for this next chapter, the market will be attentive to shareholder turnout at the EGM and the eventual execution of the buy-back. The company’s ability to maintain operational momentum outside the public spotlight will also be a key factor in its future prospects.
Bottom Line?
BirdDog’s enhanced buy-back offer sets the stage for a pivotal shareholder vote that could reshape its public market future.
Questions in the middle?
- Will the increased buy-back price secure the necessary shareholder approval for delisting?
- What strategic plans does BirdDog have post-delisting to drive growth or restructuring?
- How will the loss of ASX liquidity affect remaining shareholders and BirdDog’s valuation?