An update from Dropsuite ( (AU:DSE) ) is now available.
Dropsuite Limited has entered into a scheme implementation deed with NinjaOne, LLC, under which NinjaOne Australia Pty Ltd will acquire all of Dropsuite’s ordinary shares for $5.90 per share in cash. The announcement highlights the support of Dropsuite’s largest shareholder, Topline Capital Management LLC, which initially intended to vote its shares in favor of the scheme. However, Topline’s subsequent sale of shares has raised concerns about the transparency of its intentions, prompting Harvest Lane Asset Management Pty Ltd to file an application with the Takeovers Panel. The application questions the integrity of Topline’s intention statement and seeks orders to prevent further sales and ensure Topline votes its original 31% interest in favor of the scheme, potentially impacting shareholder confidence and market dynamics.
More about Dropsuite
Dropsuite Limited operates in the technology industry, providing cloud-based software solutions designed to safeguard business data. The company focuses on offering backup, archiving, and recovery services, catering primarily to small and medium-sized enterprises seeking robust data protection solutions.
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $255.4M
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