Gateway Lifestyle Group Announces Regarding Receipt of Revised Indicative and Non-Binding Proposal Hometown

Gateway Lifestyle Group advised that on 24 June 2018 it received a revised confidential, indicative and non-binding proposal from Hometown Australia Holdings Pty Ltd and Hometown America Communities Limited Partnership (collectively, Hometown) to acquire 100% of the issued stapled securities of Gateway Lifestyle at an indicative price of $2.35 per security by way of schemes of arrangement (the Revised Hometown Proposal). The Revised Hometown Proposal states that the indicative price would be reduced by the value of any dividends or distributions paid following receipt of the Revised Hometown Proposal.

The Revised Hometown Proposal is otherwise subject to the same conditions as Hometown’s initial proposal, announced to ASX on 13 June 2018 (including entering into a scheme implementation agreement and Foreign Investment Review Board approval), except that Hometown now proposes conducting due diligence on a nonexclusive basis.

Hometown has also indicated that it holds a relevant interest in Gateway Lifestyle securities of 18.2% as at 23 June 2018.

The Board of Gateway Lifestyle remains committed to maximizing value for securityholders and has commenced an assessment of the Revised Hometown Proposal, including any implications for the exclusivity agreement currently in place with Brookfield and announced to ASX on 21 June 2018.

Gateway Lifestyle will keep the market informed of material developments.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s