Notice

Off-market takeover bid by ICollege Limited to purchase all of the shares of Redhill Education Limited (ASX code: RDH)

What's this about:
  • ASX Market
  • Clearing
  • Settlement
  • Operations
  • Market Data
  • Compliance
  • Risk
Notice reference number: 0474.21.04
Date published: 15/04/21
Effective as of: 15/04/21
Last updated: 20/03/26

This Notice is being issued to provide Participants with further information in relation to the bid and details the acceptance process through CHESS.

What do I need to do by when?

Bid Details:

Bidder:

ICollege Limited

UIC:

11653

Registry/Agent:

Advanced Share Registry

Target Issuer:

RedHill Education Limited

Target ASX Code:

RDH

Takeover Code/Consideration

RDH002 – 7.6 Fully Paid Ordinary Shares In ICollege (ASX:ICT) For Every One Fully Paid Ordinary Share In Redhill Education Limited

 

Offer Terms:

Offer Open Date:

15 April 2021

Offer Close Date:

7:00pm (Melbourne time) on Monday, 17 May 2021 (unless extended or withdrawn)

CHESS will process acceptance messages until 7:00pm (Melbourne time) on Monday, 3 May 2021 or in the event that the bid is extended, such other time as may be notified by bidder to the market.

For further information regarding the Offer, please contact the ICollege Offer Information Line on +61 8 6500 2114

Need more information?

Issued by

Rebecca Hayes, Equity Operations

Contact information

Rebecca Hayes
1800 814 051
chesshelp@asx.com.au

General Information

Participants should refer to Section 13 of the CHESS Procedure Guidelines for Participants and Section 14 of the ASX Settlement Operating Rules for further information concerning the processing of Takeover Acceptance Messages for a CHESS Holding of securities. Some of these issues are summarised below. 

  • A Participant must initiate acceptance of an offer by transmission of an EIS type ‘031’ message (Takeover Acceptance) where the securities in question are held in a CHESS Holding. The Participant will receive a ‘032’ message (Effected Takeover Acceptance) from CHESS in response. 
  • In addition to the electronic notification to the Participant, paper notification will be sent directly to the Holder as securities are reserved in an offer-accepted subposition. Any change to the balance of securities in subposition will generate further electronic advice to the Participant and paper advice to the Holder.
  • Where a Participant receives instructions from a Sponsored Holder, the Participant is required under the ASX Settlement Operating Rules to initiate acceptance of an offer:
  • if the Holder specifies the time when or by which the offer must be accepted, in accordance with those instructions; otherwise 
  • by End of Day on the date of receipt of instructions from the Holder. Where the offer closes on the date of receipt of instructions then prior to the close of the offer. 

Participants should therefore retain, as a minimum, a record of the date on which instructions to accept an offer are received from a Sponsored Holder.

Disclaimer