Kip McGrath shares will be suspended from quotation after Crimson Consulting Australia dispatched compulsory acquisition notices for the remaining securities. The move takes the takeover into a decisive procedural phase, although the ASX notice gives no completion or delisting date.
- Trading suspension effective after close on 11 November 2026
- Compulsory acquisition notices dispatched by Crimson Consulting Australia
- Suspension made under ASX Listing Rule 17.4
- No completion date or delisting detail disclosed
Kip McGrath suspension follows compulsory acquisition notices
Kip McGrath Education Centres Limited (ASX:KME) will be suspended from quotation at the close of trading on Wednesday, 11 November, after Crimson Consulting Australia Pty Ltd dispatched compulsory acquisition notices for the remaining securities.
The ASX said the suspension was being imposed under Listing Rule 17.4. In practical terms, Kip McGrath securities will no longer trade on the exchange once the suspension takes effect, marking a significant step in Crimson's effort to move from control to full ownership.
Takeover moves beyond the 90% control threshold
The notice follows the compulsory acquisition process that began after Crimson closed its takeover offer with a 93.88% relevant interest. Today's filing confirms that the acquisition notices have now been dispatched, but does not disclose when the compulsory acquisition will be completed.
It also provides no new information on the consideration payable to remaining holders, the expected ownership transfer date or whether and when Kip McGrath will be removed from the ASX official list. Those details matter to investors whose securities remain subject to the acquisition process, particularly now that ordinary exchange trading is suspended.
The immediate catalyst is therefore administrative rather than financial: the suspension changes the trading status of the securities, while the next material step is confirmation of the acquisition's completion and the company's post-takeover listing status.
Bottom Line?
The suspension removes ordinary market liquidity; the key unresolved point is when Crimson's compulsory acquisition will be completed and Kip McGrath's listing status settled.
Questions in the middle?
- When will the compulsory acquisition of the remaining Kip McGrath securities be completed?
- What consideration and settlement details will apply to shareholders whose securities are compulsorily acquired?
- Will Kip McGrath be delisted after Crimson completes the acquisition, or will any reinstatement process follow?