Amaysim gets increased offer for post-Optus sale assets

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Amaysim gets increased offer for post-Optus sale assets

WAM Capital bumps up price ahead of shareholder vote.

Amaysim has told shareholders that the prospective buyer of its post-Optus sale assets has increased its offer ahead of the scheduled shareholder vote.

Investment firm WAM Capital has increased its offer from $0.695 per share in cash or one WAM share for every 2.7 Amaysim shares in scrip, to $0.70 per share or one WAM share to 2.675 Amaysim shares, respectively. The offer can also be a combination of scrip and cash.

Amaysim said its board unanimously recommended that shareholders vote in favour of the offer, with confirmation from major shareholders for their support.

With the deal, WAM Capital is acquiring Amaysim’s remaining underlying businesses and operations following the sale of the mobile business to Optus, which was announced in November 2020.

WAM will also take responsibility for the planned distribution of all remaining cash to Amaysim shareholders, as well as manage the planned wind up and delisting of Amaysim from the Australian Securities Exchange.

The offer is expected to close on 30 March 2021.

“We look forward to welcoming Amaysim shareholders to the Wilson Asset Management Family, as we continue to grow WAM Capital to the benefit of all shareholders,” WAM Capital said in its announcement.

“We are pleased to receive the support of the Amaysim directors and senior management for the WAM offer and look forward to working with them to provide collective benefits to both WAM and Amaysim shareholders."

Copyright © CRN Australia. All rights reserved.

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