Bennamon’s Strategic Move to Delist Pact Group

Pact Group Holdings Ltd. (AU:PGH) has released an update.

Bennamon Industries is intensifying its pursuit of Pact Group Holdings with the intention to delist the company from the ASX, subject to meeting specific conditions detailed in their eleventh supplementary bidder’s statement. Currently holding 87.33% of Pact shares, they have outlined the steps needed for delisting Pact, even if they don’t reach the 90% threshold required for compulsory acquisition. Additionally, an option for shareholders to withdraw their acceptance of the offer has been introduced following concerns raised with the Takeovers Panel.

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