Further to press speculation contained in the Australian Financial Review on 18 February 2024, APM Human Services International Limited (ASX: APM; 'APM') confirms that it has been in discussions with CVC Asia Pacific Limited (CVC) and received on Friday, 16 February 2024 a conditional and non-binding indicative proposal pursuant to which funds or investment vehicles advised by CVC would acquire all of the shares in APM by way of a scheme of arrangement (the Proposal).

Under the terms of the Proposal, APM shareholders would receive consideration of A$1.60 cash per share less any dividends paid to shareholders after the date of the Proposal. The Proposal also included an option for all APM shareholders to receive all or part of the consideration in unlisted scrip in CVC's acquisition entity

The Board of directors of APM (Board), including its independent directors, have unanimously resolved not to pursue the Proposal on the basis that it does not sufficiently reflect the fundamental value of APM and the potential of its market leading platform globally. Although APM is currently operating in a challenging environment at a historic low point of the unemployment cycle, the Board remains confident in the outlook for APM