360 Capital Group (ASX: TGP) has acknowledged the takeover bid from TT Investments for all outstanding securities in the company at $0.30 cash per stapled security. 360 Capital Group is an ASX-listed, investment and funds management group, focused on strategic and active investment management of real estate assets. Led by a highly experienced team, the Group operates in Australian investing across real estate equity and credit opportunities. TT Investments may also acquire securities on-market at or below the Offer price.
Given the association between TT Investments and Tony Pitt, the Executive Chairman of 360 Capital Group, an Independent Board Committee (IBC) has been established. The IBC, chaired by Non-Executive Director and Deputy Chairman David van Aanholt, will consider the merits of the Offer. Clayton Utz has been retained as legal advisors to the IBC.
The IBC has advised securityholders to refrain from taking any action regarding the Offer or TT Investments’ bidder’s statement at this time. A Target’s Statement, including an Independent Expert’s Report (IER) to evaluate the fairness and reasonableness of the Offer, will be provided to securityholders in due course.
The IBC has assured securityholders that they will be kept informed of any significant developments as they occur. Securityholders seeking further information can visit the ASX website using the code “TGP” or contact the company directly via phone or email.
