Elph Investments Pty Ltd has announced an extension to its off-market takeover bid for Engenco Limited (ASX:EGN), according to a notice lodged with the ASX on May 23, 2025. The offer period, initially slated to close on May 30, 2025, will now remain open until 7:00 PM (Sydney time) on June 27, 2025, unless further extended or withdrawn. This extension is a formal variation of the offer, as outlined in the company’s bidder’s statement dated April 7, 2025. Elph Investments has notified the Australian Securities and Investments Commission (ASIC) and Engenco Limited of this change.
In conjunction with the offer extension, Elph Investments has also postponed the date for providing notice regarding the status of conditions attached to the takeover bid. The new date for this notification is set for June 20, 2025, replacing the original date of May 23, 2025, as specified in the bidder’s statement. As of the date of this announcement, Elph Investments acknowledges that none of the conditions outlined in section 9.7 of the bidder’s statement have been fulfilled. Consequently, the offer and any contracts resulting from its acceptance remain subject to these conditions.
The legal firm Pinsent Masons is representing Elph Investments in this matter. The announcement emphasizes that except for the extension of the offer period, all other terms and conditions of the original offer remain unchanged. The decision to extend the offer and postpone the conditions status update was approved by a resolution passed by the directors of Elph Investments Pty Ltd. The market will be closely watching to see if the outstanding conditions are met before the new deadline.
