Crimson reaches the endgame with 93.88% of Kip McGrath

Crimson secures 93.88% of Kip McGrath

Crimson Australia has reached the decisive stage of its takeover of Kip McGrath Education Centres (ASX:KME), closing its off-market offer with a 93.88% relevant interest in the company. The offer closed at 7.00pm Melbourne time on 4 November 2026.

The result leaves Crimson with a clear path to take the remaining shares through compulsory acquisition. The bidder had already crossed the 90% threshold in the 90% control threshold earlier in the process, when it reported a 91.40% relevant interest and said it intended to compulsorily acquire shares held by the remaining investors.

Compulsory acquisition now under way

Crimson Australia, a wholly owned subsidiary of New Zealand-incorporated Crimson Consulting, said it has commenced the compulsory acquisition process for the remaining Kip McGrath shares. That process is the next step in converting overwhelming control into full ownership, although the announcement does not state when the acquisition will be completed.

For Kip McGrath shareholders who did not accept the offer, the filing marks the end of the voluntary acceptance window and the beginning of a statutory squeeze-out process. It does not disclose the final settlement arrangements, a timetable for transferring the remaining shares or whether Kip McGrath will subsequently be removed from the ASX.

The announcement also gives no new detail on the offer consideration or the transaction value. Those omissions leave the mechanics of the final transfer, rather than the control outcome itself, as the main unresolved issue for shareholders tracking the end of Kip McGrath’s independent listed-company status.