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Highlights
Hutchison Telecommunications (Amsterdam) B.V. offers AU$0.032 per share for all HTAL shares it doesn’t own.
The offer values HTAL at AU$434.32 million, reflecting a 52.4% premium to last closing price.
An Independent Board Committee is reviewing the offer and advises shareholders to take no action yet.
Hutchison Telecommunications (Australia) Limited (ASX:HTA) acknowledges receipt of an off-market takeover offer from Hutchison Telecommunications (Amsterdam) B.V. (HTABV), an indirect wholly-owned subsidiary of CK Hutchison Holdings Limited (CKHH).
HTABV, which already holds approximately 87.87% of HTAL’s issued shares, has announced its intention to acquire the remaining 12.13% that it does not already own. Under the proposed terms, HTABV is offering AU$0.032 in cash per share, valuing HTAL’s total share capital at approximately AU$434.32 million.
This offer represents a:
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52.4% premium to the HTAL closing share price of AU$0.021 on 21 May 2025;
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39.1% premium to the one-month volume-weighted average price (VWAP) of AU$0.0231;
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39.1% premium to the three-month VWAP of AU$0.0232.
Following this announcement, HTAL shares surged by 57%, trading at AU$0.033 per share on 22 May morning.
Independent Board Committee Formed
To ensure fair consideration of the offer and protect the interests of all shareholders, the HTAL Board has established an Independent Board Committee (IBC). The IBC, comprising independent directors Justin Gardener and John Scanlon, is currently reviewing the bid in detail.
At this stage, the IBC recommends that shareholders take no action in relation to the offer until a formal response is issued. This will include the Board’s recommendation and an independent expert’s report assessing whether the offer is fair and reasonable to minority shareholders.
The offer is expected to open no later than 5 June 2025, in accordance with takeover regulations. Once open, HTAL will issue a target’s statement detailing its response and advice for shareholders.
Offer Conditions
HTABV’s offer is subject to limited conditions, including:
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That HTABV and its associates increase their holding to at least 97% of HTAL’s issued shares;
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That no dividends are declared or paid during the offer period;
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That no "prescribed occurrences" such as major changes in capital or insolvency events take place during the offer period.
HTABV has already received Foreign Investment Review Board (FIRB) approval for acquiring up to 100% of HTAL, meaning regulatory clearance is not a barrier to the offer.





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