OptiComm Receives Non binding Conditional Competing Proposal from FSS Trustee Corporation

1 min read | September 08, 2020 01:05 PM AEST | By Team Kalkine Media

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On 15 June 2020, OptiComm Ltd (ASX:OPC) had entered into a Scheme Implementation Deed with Uniti Group Limited (ASX:UWL) to acquire OptiComm by way of a Scheme of Arrangement.

The Uniti Scheme offers several considerations for OptiComm shareholders at a per-share value of A$5.10. Moreover, under the scheme, it is proposed that shareholders of OptiComm shall also receive a special dividend (fully franked) of A$0.10 per share.

OPC disclosed that it has received a non?binding conditional competing proposal from FSS Trustee Corporation as trustee for the 1^st State Superannuation Scheme.

The proposal comprises due diligence & conditions for the final investment committee approval.

Also, the proposal comprises a condition that the Board of OptiComm allow the competing bidder to perform due diligence on OPC for the period ending on 18 September 2020.

On 8 September 2020, OPC share price was noted at A$5.620 up by 9.873% at AEST 11:47 AM.

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