BINGO responds to media reports re: takeover offer

BINGO confirms that it has received an unsolicited, highly conditional, non-binding, indicative proposal (the Proposal) from funds advised by CPE Capital (CPEC), on behalf of CPEC and its potential co-investors (the Consortium), which include Macquarie Infrastructure and Real Assets (MIRA), for the acquisition of BINGO by way of scheme of arrangement.

The indicative cash price currently offered to BINGO shareholders under the Proposal is $3.50 per share (Cash Proposal). The Proposal also references a scrip alternative that is under development that would provide all shareholders with the option of electing to receive a mix of cash and unlisted scrip consideration at a lower upfront price than the Cash Proposal, with the potential for higher consideration over time, contingent on certain earnings thresholds being achieved post completion of a transaction (Cash and Unlisted Scrip Alternative).

The Proposal is being considered by an Independent Board Committee of BINGO and discussions and due diligence with the Consortium have been ongoing. There can be no assurance that any transaction will result from discussions with the Consortium