Latest Ebg News

Eumundi Group has officially been acquired by SEQ Hospitality Group, with shareholders receiving A$1.62 per share and significant board changes announced. The company is set to be delisted from the ASX imminently.

SEQ Hospitality Group has formally withdrawn its off-market takeover bid for Eumundi Group following shareholder and court approval of a competing scheme of arrangement. This move effectively ends the takeover offer and confirms the scheme as the path forward for Eumundi shareholders.

Eumundi Group Limited’s shares have been suspended from ASX trading following Federal Court approval of its acquisition by SEQ Hospitality Group Pty Ltd, marking a pivotal step in the company’s transition.

Eumundi Group's scheme of arrangement has been legally approved, paving the way for SEQ Hospitality Group to acquire all shares at $1.62 each. Trading of Eumundi shares on the ASX is suspended effective immediately, with payment scheduled for mid-February.

The Federal Court of Australia has approved SEQ Hospitality Group’s acquisition of Eumundi Group, setting the stage for a $1.62 per share cash payout to shareholders and imminent suspension of Eumundi’s ASX trading.

Eumundi Group has issued a second supplementary target's statement endorsing SEQ Hospitality Group's takeover offer, maintaining the recommendation to accept in the absence of a superior proposal and reaffirming the offer's fairness.