Humanforce Holdings to Fully Acquire LiveHire Limited
LVH (LVH) Share Update January 2025 Tuesday 14th
Humanforce to Compulsorily Acquire Remaining LiveHire Shares
Humanforce Holdings Pty Ltd has announced its intention to compulsorily acquire the remaining shares of LiveHire Limited, marking the final step in its takeover bid.
Instant Summary:
- Humanforce currently holds 94.66% of LiveHire shares.
- Compulsory acquisition process initiated under Corporations Act 2001.
- Remaining LiveHire shareholders to be bought out at $0.045 per share.
Acquisition Details
Humanforce Holdings Pty Ltd has initiated the process to compulsorily acquire the remaining shares of LiveHire Limited that it does not already own. As of the announcement, Humanforce holds a 94.66% interest in LiveHire shares, surpassing the 90% threshold required for compulsory acquisition under the Corporations Act 2001.
The acquisition will be conducted at a price of $0.045 per share, which is consistent with the terms offered during Humanforce's previous takeover bids. The compulsory acquisition is set to proceed in accordance with Part 6A.2 of the Corporations Act, ensuring that all remaining shareholders are bought out.
Process and Documentation
Humanforce has lodged the necessary documents with ASIC, including the Notice of Compulsory Acquisition and the Buy-out Notice, which inform remaining shareholders of their rights and the terms of the acquisition. These documents are accompanied by an independent expert's report from Nexia Sydney Corporate Advisory Pty Ltd, which supports the fairness of the offer price.
Shareholders have been provided with an objection form, allowing them to contest the acquisition if they wish. However, the acquisition is expected to proceed smoothly given Humanforce's significant majority stake.
The compulsory acquisition of LiveHire shares by Humanforce is likely to consolidate Humanforce's position in the market, potentially enhancing its operational efficiencies and market reach. For LiveHire shareholders, the acquisition provides an exit at a fair market value, as determined by an independent expert. The broader market impact is expected to be minimal, as the acquisition has been anticipated since Humanforce's initial takeover bid.
Investor Reaction:
Analysts have generally reacted positively to the acquisition, noting that the consolidation under Humanforce could lead to improved strategic alignment and resource allocation. The offer price of $0.045 per share is seen as fair, and the acquisition is expected to proceed without significant shareholder opposition.
Conclusion:
Investors should consider the implications of the acquisition on their portfolios and assess any potential opportunities arising from Humanforce's expanded market presence. The completion of this acquisition marks a significant milestone for Humanforce and could signal further strategic initiatives in the future.