oOh!media (ASX:OML) Hits a 52-Week High Today

oOh!media (ASX:OML) Hits a 52-Week High Today — Here’s Why

Sonal Goyal

26 October 2026 09:46 PM AEDT

oOh!media (ASX:OML) Hits a 52-Week High Today — Here’s Why

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Key Highlights

oOh!media (ASX:OML) traded at $1.68, up 0.60%, after touching a 52-week high during the 26 October 2026 session.
New Zealand's Overseas Investment Office consented to the scheme on 23 October 2026.
The Scheme Meeting is on 2 November 2026, and the independent expert assessed the $1.68 consideration as fair and reasonable.

oOh!media Limited (ASX:OML) shares touched a 52-week high during the Trading session on 26 October 2026, trading at $1.68, up 0.60% on the day. oOh!media is a North Sydney-based out of home media company. Its most recent announcement, dated 23 October 2026, reports that a New Zealand regulatory condition has been satisfied for a proposed scheme of arrangement.

OIO Condition Satisfied on 23 October 2026

The announcement states that the New Zealand Overseas Investment Office (OIO) has consented to implementation of the scheme under the Overseas Investment Act 2005. That consent satisfies the condition precedent in clause 3.1(b) of the Scheme Implementation Agreement (SIA) between oOh! and OOH BidCo Pty Ltd, an entity owned and controlled by funds managed or advised by I Squared Capital. The scheme was announced on 10 August 2026, and the scheme booklet was released to the ASX on 29 September 2026.

Implementation remains subject to other conditions, including FIRB approval, approval by the requisite majority of shareholders at the Scheme Meeting, court approval at the Second Court Hearing, and other conditions in clause 3.1 of the SIA.

Independent Expert and Meeting Details

The scheme booklet contains an independent expert's report by Grant Samuel & Associates, which concludes that the scheme is in the best interests of shareholders in the absence of a superior proposal. The expert assessed the scheme consideration of $1.68 per share as fair and reasonable, within a valuation range of $1.59 to $1.78 per share.

The board continues to unanimously recommend that shareholders vote in favour, subject to the absence of a superior proposal and the expert's opinion continuing, with one director abstaining because of a potential conflict described in the booklet. The Scheme Meeting is at 11:00am Sydney time on Monday 2 November 2026, and voting forms or online votes must be received by 11:00am on Saturday 31 October 2026.

A scheme of arrangement is a court-approved process under which a company's shares are acquired by a bidder if shareholders vote in favour by the required majority. The announcement states that the independent expert's opinion should be read in the context of the full report and the scheme booklet, and provides a Shareholder information line for questions on weekdays between 9:00am and 5:00pm Sydney time.

The announcement points shareholders to the Scheme Booklet for further information and gives a shareholder information line on 1300 911 275. The board's recommendation applies in the absence of a superior proposal, a defined term in the SIA, and the independent expert's view applies on the same basis.

About oOh!media

oOh!media describes itself as a leading out of home media company that enhances public spaces through engaging environments, helping advertisers, landlords, leaseholders, community organisations, local councils and governments reach large public audiences. Its offices are at 73 Miller Street, North Sydney.

The announcement was authorised for release by the Company Secretary, and it lists the Chief Financial Officer and a media contact for enquiries. Voting is available in person at the North Sydney office or online through the meeting platform named in the release.

Risks

The scheme is conditional on FIRB approval, shareholder approval and court approval, and the independent expert's view is expressed in the absence of a superior proposal. The board's recommendation is also subject to those qualifications. If the conditions are not met, the scheme would not proceed.

Because the scheme is by way of court-approved arrangement, the vote needs the requisite majority of shareholders, and the Second Court Hearing follows. The unconflicted directors have said they will vote the shares they hold or control in favour of the scheme, subject to the same qualifications as the recommendation.

Catalysts on Investors' Radar

Dates include the 31 October 2026 voting deadline and the 2 November 2026 Scheme Meeting, followed by the Second Court Hearing and FIRB approval. Updates on conditions will be announced to the ASX.

Final Perspective

oOh!media touched a 52-week high at $1.68, the same figure as the scheme consideration, three days after announcing the OIO consent. Remaining conditions and the 2 November vote are the next defined steps.

FAQs

Q: What is the scheme consideration?

A:$1.68 per oOh!media share, which the independent expert assessed within a valuation range of $1.59 to $1.78.

Q: When is the Scheme Meeting?

A:11:00am Sydney time on Monday 2 November 2026.

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