Highlights

  • Crimson Consulting Australia Pty Ltd has extended its off-market Takeover offer for all shares in Kip McGrath Education Centres Limited (ASX:KME) to 7:00pm (Melbourne time) on 14 October 2026.
  • Under the offer, Kip McGrath shareholders will receive A$0.73 for each ordinary share accepted.
  • Crimson Australia, a Subsidiary of New Zealand-based Crimson Consulting Limited, will shortly lodge a second supplementary bidder's statement.
  • A related notice sets the new date for Crimson Australia to give notice of the status of the offer's conditions as 7 October 2026.

Crimson Consulting Australia Pty Ltd (Crimson Australia), a Wholly Owned Subsidiary of New Zealand-incorporated Crimson Consulting Limited, has formally extended the Offer Period under its off-market takeover bid for all shares in Kip McGrath Education Centres Limited (ASX:KME). Notices to this effect, lodged through KHQ Lawyers, confirm the offer will now remain open for acceptance until 7:00pm (Melbourne time) on 14 October 2026, extended from the previous closing date of 18 September 2026.

Under the terms of the takeover offer, detailed in Crimson Australia's bidder's statement dated 30 July 2026 and supplemented on 7 August 2026, Kip McGrath shareholders who accept the offer will receive A$0.73 for each ordinary share.

Reasons for the extension

According to the notice, Crimson Australia decided to extend the offer period specifically to give Kip McGrath shareholders who have not yet accepted the takeover offer the opportunity to do so. The company also indicated it will shortly lodge a second supplementary bidder's statement, which will be made accessible via the Kip McGrath ASX market announcements page, and encouraged shareholders to read that document carefully once available.

Separately, Kip McGrath performance rights holders were also notified of the extension. Crimson Australia clarified it is not making a separate offer to holders of performance rights, but that if those rights vest into shares during the offer period, holders will be able to accept the takeover offer in respect of those shares provided they do so before the offer closes.

Status of offer conditions

In a related notice given under section 630(2) of the Corporations Act, Crimson Australia advised that the new date for giving notice of the status of the offer's conditions is 7 October 2026, being seven days before the new closing date.

As at the date of the notice, Crimson Australia confirmed it had freed the offer from the “no distributions” condition, but only in respect of specific dividends proposed at Kip McGrath's Annual General Meeting on 29 September 2026 — namely an ordinary Dividend of 1.0 cent per share, a Special Dividend of 3.0 cents per share, and a further special dividend of 2.0 cents per share conditional on a related resolution passing, all fully franked.

Aside from this limited exception, Crimson Australia confirmed that none of the other conditions attached to the offer have been freed or fulfilled, meaning the offer remains subject to those conditions.

How shareholders can accept the offer

Kip McGrath shareholders who have not yet accepted the offer can do so online via the Automic investor portal, by completing and returning a personalised Acceptance Form, or, for shares held in a CHESS holding, by instructing their controlling participant, typically their broker, to accept on their behalf before the new closing date.

Shareholders with queries about the offer or the acceptance process can contact the Offer Information Line on 1300 109 769 within Australia or +61 2 8072 1443 internationally, or by emailing [email protected].

Conclusion

The extension of Crimson Australia's takeover offer gives Kip McGrath shareholders an additional month, until 14 October 2026, to consider and act on the A$0.73 per share offer, with a second supplementary bidder's statement expected shortly to provide further detail.

With most conditions to the offer still unfulfilled aside from a narrow Carve-Out for specific dividends being considered at Kip McGrath's upcoming AGM, shareholders are encouraged to read all supplementary materials carefully before deciding whether to accept.