Envirosuite Limited (ASX: EVS) has received a revised takeover proposal from Ideagen Limited to acquire 100% of its shares via a scheme of arrangement. The revised offer price is A$0.09 per share in cash, a decrease from the initial A$0.10 per share proposed on February 25, 2025. Despite the reduction, the revised proposal represents a premium of 100% to Envirosuite’s closing price of A$0.045 on February 21, 2025, and a 96% premium to the one-month VWAP of A$0.046 up to and including that date.
The Revised Proposal remains conditional, requiring a binding Scheme Implementation Deed with standard terms and deal protection mechanisms, unanimous recommendation from the Envirosuite Board, shareholder approval, and final internal approvals from Ideagen. The Envirosuite Board is currently assessing the merits of the Revised Proposal, ensuring it acts in the best interests of the company and its shareholders.
Envirosuite has cautioned that there is no certainty a transaction will occur. Shareholders are advised to take no action at this stage. The company will continue to update the market. Envirosuite has retained MA Moelis Australia as its financial adviser and King & Wood Mallesons as its legal adviser. Envirosuite specializes in environmental intelligence technology, serving sectors like aviation, mining, industrial, waste, and wastewater.
