29-Oct-2020:  Anyone lucky enough to be holding XPL shares prior to today?  XPL rose +187.88% today (closed at 19 cps, vs. 6.6 cps on Tuesday (they were in a trading halt all day Wednesday).  Xplore Wealth Ltd (ASX: XPL) has entered into a binding Scheme Implementation Agreement with HUB24 Limited (ASX: HUB) under which it is proposed that HUB24 will acquire 100% of the shares in Xplore for 20 cps (cents per share) by way of scheme of arrangement between Xplore and its shareholders ("Share Scheme") and 100% of the options in Xplore will be cancelled by way of scheme of arrangement between Xplore and its optionholders ("Option Scheme"). 

Not a bad premium at all!

Under the terms of the Share Scheme, Xplore shareholders will receive total value of $0.20 per Xplore share, valuing 100% of the XPL share capital at $60 million.   HUB have just raised $50m via a placement of HUB shares at $20/share.

Xplore shareholders will have the flexibility to elect to receive the Share Scheme consideration in one of the below alternatives (subject to cap limitations):

• $0.20 cash per Xplore share (Cash Consideration);
• 0.00927 HUB24 shares for each Xplore share (Scrip Consideration); or
• the default consideration of 50% Cash and 50% Scrip (Mixed Consideration).

[D'oh!!  Unfortunately, I do not hold XPL shares.]

The acquisition of XPL is just one of three acquisitions that HUB is making at the moment - as detailed in this 28-Oct-2020 STRATEGIC ACQUISITIONS & EQUITY RAISING Presentation.

[I do not hold HUB shares either.]