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):
[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.]