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Engenco Limited (ASX:EGN)

ALERT: Price-sensitive ASX Announcement for EGN
Current share price for EGN : $0.305 0 (0%)+
Announcement
Release
20 Jun 2025 5:45PM
Price at Release
$0.305
Full Release
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Summary
The document is a Compulsory Acquisition Notice issued by Elphinstone Group Pty Ltd ACN 009 953 611 (EGN) for all ordinary shares in Engenco Limited ACN 120 432 144. The notice informs Engenco shareholders that EGN has acquired a relevant interest in at least 90% of Engenco shares and has commenced compulsory acquisition of the remaining securities. The document outlines the compulsory acquisition process under the Corporations Act 2001 (Cth), including the timeline for acquisition, the consideration offered to shareholders ($1.35 cash per share), and the rights of shareholders during the acquisition period, including rights to object. It also provides instructions for shareholders regarding the return of their consideration and outlines the consequences of compulsory acquisition, including cessation of share trading and removal from ASX quotation. The notice also includes information on the tax implications of the acquisition and the steps for lodging objections if shareholders wish to dispute the acquisition.
Key Points
  • EGN has reached over 90% ownership of Engenco Limited shares and initiated compulsory acquisition of outstanding shares.
  • Compulsory acquisition is conducted under Part 6A.1 of the Corporations Act 2001 (Cth).
  • Shareholders will receive $1.35 cash per Engenco share subject to the acquisition.
  • Shareholders have a right to object to the acquisition by 28 June 2024, and must follow the procedure described in the notice.
  • If no objection is received or objections are not upheld, EGN will acquire the remaining shares and pay the consideration.
  • Trading in Engenco shares on the ASX will be suspended and the company will be removed from the official list after the process.
  • Shareholders may have tax implications from the acquisition and are advised to seek independent advice.
  • Consideration for shares will be sent to the address or bank details held by the share registry; shareholders should update their details if necessary.
  • The document outlines the steps, timelines, and rights related to the compulsory acquisition process.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.