XREF EXTENDS SEEKS EXCLUSIVITY PERIOD
Released
Released
Announcement PDF
ASX Announcement/Press Release: 11th November 2024
Xref Limited (ASX: XF1)
XREF EXTENDS SEEK’S EXCLUSIVITY PERIOD
Xref Limited (ASX: XF1) (Xref) refers to its announcement on 14 October 2024 regarding it and Seek Limited (ASX: SEK)
(SEEK) entering into an Exclusivity Deed (Exclusivity Deed) following Xref’s receipt of a non-binding indicative offer
(Indicative Proposal) to acquire all of the ordinary Xref shares on issue for $0.2181 in cash per Xref share, by way of a
scheme of arrangement (Proposed Transaction).
The parties are continuing to address outstanding matters as they work towards agreeing and executing a binding
scheme implementation deed. To enable that process to complete, Xref has agreed to extend the Exclusivity Period set
out in the Exclusivity Deed to 11:59 pm (AEDT) on 15 November 2024 (the Exclusivity Period was due to expire at 11:59pm
(AEDT) on 8 November 2024).
The exclusivity provisions will continue to apply on the same terms except that a fiduciary exception applies to Xref’s “no
talk” and “no due diligence” obligations for the remainder of the Exclusivity Period.
The amended and restated Exclusivity Deed is attached to this announcement as Appendix A.
Xref will continue to keep the market informed of any material developments in accordance with its continuous
disclosure requirements. There is no certainty that the Indicative Proposal will result in a binding transaction being put
forward to shareholders for consideration and shareholders do not need to take any action in relation to the Indicative
Proposal at this time.
This announcement has been approved by the Board of Directors of Xref.
To learn more or ask questions, please visit
Website: xref.com
Investor Centre and Presentation: xf1.com
Twitter: @xf1
1
Based on 189m ordinary shares on issue and assuming that all out of the money options are cancelled on terms satisfactory to SEEK.
Xref Limited (ASX:XF1)
ACN 122 404 666
Lv 20, 135 King Street, Sydney, NSW 2000
Phone: +61 2 8244 3099
Website: xref.com
Email: investors@xref.com
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Appendix A: Amended and Restated Exclusivity Deed
Xref Limited (ASX:XF1)
ACN 122 404 666
Lv 20, 135 King Street, Sydney, NSW 2000
Phone: +61 2 8244 3099
Website: xref.com
Email: investors@xref.com
2
Deed of Amendment and
Restatement: Exclusivity
Deed
Dated
8 November 2024
Xref Limited (“Xref”) (ABN 34 122 404 666)
and
SEEK Limited (“SEEK”) (ABN 46 080 075 314)
King & Wood Mallesons
Level 27
Collins Arch
447 Collins Street
Melbourne VIC 3000
Australia
T +61 3 9643 4000
www.kwm.com
Deed of Amendment and Restatement:
Exclusivity Deed
Parties
SEEK and Xref
SEEK
Name
SEEK Limited
ABN
46 080 075 314
Address
60 Cremorne Street, Cremorne, Victoria, 3121
Email
legalofficer@seek.com.au
Attention
General Counsel
Name
Xref Limited
ABN
34 122 404 666
Address
Level 20, 135 King Street, Sydney NSW 2000
Australia
Email
lee@xref.com
Attention
Lee Seymour
Xref
© King & Wood Mallesons
70592186_2
Business Day
place (s)
Sydney, NSW
Governing law
New South Wales
Recitals
A
The parties entered into the Exclusivity Deed on 14 October
2024.
B
Clause 6.2 of the Exclusivity Deed provides that a variation
of any provision must be made in writing and signed by the
parties to be bound.
C
The parties wish to agree to amend and restate the
Exclusivity Deed in the manner set out in this deed.
Deed of Amendment and Restatement: Exclusivity Deed
4 October 2024
1
1
Interpretation
1.1
Definitions
These meanings apply unless the contrary intention appears:
Exclusivity Deed means the deed dated 14 October 2024 entered into between
Xref and SEEK.
1.2
Other defined terms
In this deed, unless the contrary intention appears, terms defined in the
Exclusivity Deed (either expressly or by incorporation) have the same meaning
when used in this deed.
1.3
Headings
Headings are inserted for convenience only and do not affect the interpretation of
this deed.
2
Amendments to the Exclusivity Deed
2.1
Amendment and restatement
The parties acknowledge and agree that with effect on and from the date this
deed is executed by both parties, the Exclusivity Deed is amended and restated
as set out in Schedule 1 of this deed.
2.2
2.3
Amendments not to affect validity, rights, obligations
(a)
This deed is intended only to vary the Exclusivity Deed and not to
terminate, discharge, rescind or replace it.
(b)
The amendments to the Exclusivity Deed do not affect the validity or
enforceability of the Exclusivity Deed.
(c)
Nothing in this deed:
(i)
prejudices or adversely affects any right, power authority,
discretion or remedy which arose under or in connection with the
Exclusivity Deed before the date of this deed; or
(ii)
discharges, releases or otherwise affects any liability or
obligation which arose under or in connection with the
Exclusivity Deed before the date of this deed.
Confirmation
On and with effect from the date of this deed, each party is bound by the
Exclusivity Deed as amended by this deed.
3
General
3.1
Counterparts
This deed may be executed in any number of counterparts. All counterparts
together will be taken to constitute one instrument.
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Deed of Amendment and Restatement: Exclusivity Deed
8 October 2024
2
3.2
Incorporation
Clause 5 (“Notices), clause 7.2 (“General interpretation”) and clause 8
(“Governing law”) of the Exclusivity Deed apply to this deed as if they were fully
set out in this deed.
EXECUTED as a deed
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Deed of Amendment and Restatement: Exclusivity Deed
8 October 2024
3
8 November 2024
DATED:______________________
EXECUTED by XREF LIMITED (ABN
34 122 404 666) in accordance with
section 127(1) of the Corporations Act
2001 (Cth):
...............................................................
Signature of director
...............................................................
Signature of director/company
secretary
...............................................................
Name of director (block letters)
...............................................................
Name of director/company secretary
(block letters)
EXECUTED by SEEK LIMITED (ABN
46 080 075 314) in accordance with
section 127(1) of the Corporations Act
2001 (Cth):
© King & Wood Mallesons
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...............................................................
Signature of director
...............................................................
Signature of director/company
secretary
IAN NAREV
...............................................................
Name of director (block letters)
RACHEL AGNEW
...............................................................
Name of director/company secretary
(block letters)
Deed of Amendment and Restatement: Exclusivity Deed
8 October 2024
4
Docusign Envelope ID: E51B5088-B076-4068-9D22-7907CC88CA05
8 November 2024
DATED:______________________
EXECUTED by XREF LIMITED (ABN
34 122 404 666) in accordance with
section 127(1) of the Corporations Act
2001 (Cth):
...............................................................
Signature of director
Lee-Martin John Seymour
...............................................................
Name of director (block letters)
...............................................................
Signature of director/company
secretary
Thomas Stianos
...............................................................
Name of director/company secretary
(block letters)
EXECUTED by SEEK LIMITED (ABN
46 080 075 314) in accordance with
section 127(1) of the Corporations Act
2001 (Cth):
© King & Wood Mallesons
70592186_2
...............................................................
Signature of director
...............................................................
Signature of director/company
secretary
...............................................................
Name of director (block letters)
...............................................................
Name of director/company secretary
(block letters)
Deed of Amendment and Restatement: Exclusivity Deed
8 October 2024
4
Amended and Restated
Exclusivity Deed
Dated
Xref Limited (“Xref”) (ABN 34 122 404 666)
and
SEEK Limited (“SEEK”) (ABN 46 080 075 314)
King & Wood Mallesons
Level 27
Collins Arch
447 Collins Street
Melbourne VIC 3000
Australia
T +61 3 9643 4000
www.kwm.com
© King & Wood Mallesons
70592186_2
2
8 October 2024
© King & Wood Mallesons
70592186_2
1
Interpretation
2
1.1
1.2
1.3
Definitions
Other defined terms
Headings
2
2
2
2
Amendments to the Exclusivity Deed
2
2.1
2.2
2.3
Amendment and restatement
Amendments not to affect validity, rights, obligations
Confirmation
2
2
2
3
General
2
3.1
3.2
Counterparts
Incorporation
2
3
Details
1
General terms
2
1
Exclusivity
2
1.1
1.2
1.3
1.4
1.5
1.6
1.7
No existing discussions
No shop
No talk or due diligence
Exceptions
Notice of unsolicited approach
Acknowledgements and compliance with law
Takeovers Panel
2
2
2
3
3
3
4
2
Announcement of intention to recommend
4
2.1
2.2
Intention to recommend
Announcement of the Transaction
4
4
3
Standstill
5
3.1
3.2
3.3
3.4
Confidentiality Agreement
Standstill
Exceptions to standstill
Standstills with other bidders
5
5
5
5
4
Termination
6
4.1
4.2
Termination
Survival
6
6
5
Notices
6
6
General
6
6.1
6.2
6.3
6.4
6.5
6.6
6.7
6.8
6.9
Confidentiality
Variation and waiver
Consents, approvals or waivers
Discretion in exercising rights
Partial exercising of rights
Remedies cumulative
Counterparts
Entire agreement
Severability
6
7
7
7
7
7
7
7
7
Amended and Restated Exclusivity Deed
8 October 2024
3
7
Definitions and interpretation
7
7.1
7.2
Definitions
General interpretation
7
10
8
Governing law
11
8.1
8.2
Governing law and jurisdiction
Serving documents
11
11
Signing page
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Amended and Restated Exclusivity Deed
8 October 2024
12
4
Amended and Restated Exclusivity Deed
Details
Parties
SEEK and Xref
SEEK
Name
SEEK Limited
ABN
46 080 075 314
Address
60 Cremorne Street, Cremorne, Victoria, 3121
Email
legalofficer@seek.com.au
Attention
General Counsel
Name
Xref Limited
ABN
34 122 404 666
Address
Level 20, 135 King Street, Sydney NSW 2000
Australia
Email
lee@xref.com
Attention
Lee Seymour
Xref
© King & Wood Mallesons
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Business Day
place (s)
Sydney, NSW
Governing law
New South Wales
Recitals
A
The parties entered into the Confidentiality Agreement
(defined below) under which they have disclosed to each
other certain confidential information in respect of the
Approved Purpose (as defined in the Confidentiality
Agreement).
B
SEEK provided to Xref a non- binding indicative offer letter
(Proposal) in respect of a potential acquisition by SEEK of
all the issued shares in Xref by way of scheme of
arrangement (Proposed Transaction).
C
On the basis of the Proposal and subsequent discussions,
Xref has agreed to enable SEEK to continue its due
diligence in respect of the Proposed Transaction on an
exclusive basis in accordance with this deed (Exclusivity
Deed).
Amended and Restated Exclusivity Deed
4 October 2024
1
Amended and Restated Exclusivity Deed
General terms
1
Exclusivity
1.1
No existing discussions
1.2
(a)
Xref represents and warrants that, as at the date of this document, other
than the discussions with SEEK in respect of the Proposed Transaction,
it has terminated all existing negotiations or discussions in respect of any
Competing Transaction with any Third Party.
(b)
During the Exclusivity Period, Xref will promptly enforce the terms of any
confidentiality agreement (or equivalent document) entered into with a
party other than SEEK in relation to a Competing Transaction and will
immediately request the return or destruction of all Xref Confidential
Information (as defined in the Confidentiality Agreement) from that party
and terminate their access to any confidential information
No shop
During the Exclusivity Period, Xref must ensure that neither it nor any of its
Representatives directly or indirectly:
(a)
solicits, invites, encourages or initiates any enquiries, negotiations or
discussions; or
(b)
communicates any intention to do any of these things,
with a view to obtaining any offer, proposal or expression of interest from any
person in relation to a Competing Transaction.
1.3
No talk or due diligence
Subject to clause 1.4, during the Exclusivity Period, Xref must ensure that neither
it nor any of its Representatives:
(a)
negotiates or enters into;
(b)
participates in negotiations or discussions with any other person
regarding; or
(c)
provides due diligence or other information access to any other person in
furtherance of,
a Competing Transaction or any agreement, understanding or arrangement that
may be reasonably expected to lead to a Competing Transaction, even if that
person’s Competing Transaction was not directly or indirectly solicited, invited,
encouraged or initiated by Xref or any of its Representatives or the person has
publicly announced the Competing Transaction provided that nothing in this
clause 1.3 prevents or restricts Xref, or any of its Representatives, from
responding to a Third Party in respect of an enquiry, expression of interest, offer,
proposal, discussion, negotiation or other communication by that Third Party in
relation to, or that would reasonably be expected to lead to the making of, a
Competing Proposal to merely:
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Amended and Restated Exclusivity Deed
4 October 2024
2
1.4
(d)
acknowledge receipt; or
(e)
advise that Third Party that Xref is bound by customary no talk and no
due diligence restrictions (and these restrictions are not subject to any
fiduciary carve-outs).
Exceptions
(a)
(b)
1.5
During the Extended Exclusivity Period, clause 1.3 does not apply to the
extent that it restricts any member of the Xref Group or any of their
Representatives from taking or refusing to take any action with respect to
a genuine Competing Transaction (which was not solicited, invited,
encouraged or initiated by Xref in breach of clause 1.2) provided that the
Xref Board has determined, in good faith and acting reasonably that
after:
(i)
consultation with its external legal and financial advisors, such
Competing Transaction is, or could reasonably be expected to
become a Superior Transaction; and
(ii)
receiving written legal advice from its external legal advisers that
compliance with clause 1.3 would, or would be reasonably likely
to, constitute a breach of Xref Board’s fiduciary or statutory
obligations.
Nothing in this document prevents Xref from:
(i)
continuing to make normal presentations to, and to respond to
enquiries from, brokers, portfolio investors and analysts in the
ordinary course in relation to the Proposed Transaction or its
business generally; or
(ii)
fulfilling its continuous disclosure requirements.
Notice of unsolicited approach
During the Exclusivity Period, Xref must promptly and in any event within 1
Business Day inform SEEK if it or any of its Representatives:
1.6
(a)
receives any unsolicited approach with respect to any Competing
Transaction and must disclose to SEEK all material details of the
Competing Transaction, including details (including the identity) of the
proposed bidder or acquirer; and
(b)
receives any request for information relating to Xref or any of its Related
Bodies Corporate or any of their businesses or operations or any request
for access to the books or records of Xref or any of its Related Bodies
Corporate, which Xref has reasonable grounds to suspect may relate to
a current or future Competing Transaction.
Acknowledgements and compliance with law
(a)
Xref acknowledges that it has received legal advice on this document,
including the operation of this clause 1.
(b)
If it is finally determined following the exhaustion of all reasonable
avenues of appeal and review, judicial or otherwise, to the Takeovers
Panel or a court that all or any part of this clause 1:
(i)
© King & Wood Mallesons
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constituted, or constitutes, or would constitute, a breach of the
fiduciary or statutory duties of the Xref Board; or
Amended and Restated Exclusivity Deed
4 October 2024
3
(ii)
constitutes ‘unacceptable circumstances’ within the meaning of
the Corporations Act; or
(iii)
is unlawful for any other reason,
then, to that extent (and only to that extent), Xref will not be obliged to
comply with that part of this clause 1.
1.7
Takeovers Panel
(a)
Xref must not make, or cause or permit to be made, any application to a
court or the Takeovers Panel for or in relation to a declaration or
determination of the kind referred to in clause 1.6(b)(ii); and
(b)
If any Third Party makes any application to a court or the Takeovers
Panel for or in relation to a declaration or determination of the kind
referred to in clause 1.6(b)(ii), then the parties must each make
submissions in the course of those proceedings supporting to the fullest
extent reasonably practicable the position that no such declaration or
determination should be made.
2
Announcement of intention to recommend
2.1
Intention to recommend
(a)
Xref represents and warrants to SEEK that, as at the date of this
document, each director of Xref has confirmed that he or she intends,
subject to entry into a binding scheme implementation deed (or
equivalent document) to:
(i)
unanimously recommend to Xref Shareholders to vote; and
(ii)
to vote or procure that any ordinary shares in Xref in which a
director of Xref has a Relevant Interest is voted,
in favor of any scheme of arrangement required to implement the
Proposed Transaction, in the absence of a Superior Transaction and
subject to an independent expert concluding (and continuing to
conclude) that the Proposed Transaction is in the best interests of Xref
Shareholders (other than SEEK).
(b)
2.2
During the Exclusivity Period, Xref must use reasonable endeavours to
procure that no director publicly changes, withdraws or qualifies their
intention to recommend that Xref Shareholders vote in favour of the
Proposed Transaction (in each case subject to a scheme implementation
deed (or equivalent document) being entered into) unless this deed is
validly terminated.
Announcement of the Transaction
Notwithstanding any provision of the Confidentiality Agreement:
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(a)
immediately after the execution of this document the parties will make
public announcements regarding the Proposed Transaction in a form
agreed in writing between the parties;
(b)
immediately after the execution of an agreement to extend the
Exclusivity Period to reflect the Extended Exclusivity Period, the parties
Amended and Restated Exclusivity Deed
4 October 2024
4
will make public announcements regarding the Extended Exclusivity
Period in a form agreed in writing between the parties; and
(c)
where a party proposes to make any subsequent public announcement
in connection with the Proposed Transaction, it must, to the extent
practicable and lawful to do so and permitted by the rules of any stock
exchange, consult with the other party prior to making the relevant
disclosure and take account of any reasonable comments received from
the other party in relation to the timing, form and content of the
announcement or disclosure as well as the content or existence of
negotiations between the parties prior to making the announcement.
3
Standstill
3.1
Confidentiality Agreement
Subject to clause 3.4, the parties agree and acknowledge that clause 3.2 in this
document supersedes and replaces clause 6 (“Standstill”) in the Confidentiality
Agreement in its entirety.
3.2
Standstill
Subject to clause 3.3, during the Standstill Period, SEEK must not directly or
indirectly:
(a)
acquire, agree to acquire or make an invitation, offer or proposal to
acquire, any securities or property or any right or option to acquire any
securities or property of Xref;
(b)
enter into any arrangements involving the conferring of rights, the
economic effect of which is equivalent, or substantially equivalent, to
anything referred to in clause 3.2(a);
(c)
solicit proxies from shareholders of Xref or otherwise, whether alone or
in concert with others, seek to influence, change or control the
management or policies of Xref;
(d)
disclose any intention, plan or arrangement to do anything referred to in
clauses 3.2(a) to 3.2(c) (inclusive); or
(e)
aid, abet, counsel or induce any other person to do any of the things
referred to in clauses 3.2(a) to 3.2(d) (inclusive),
except with the prior written consent of Xref or pursuant to the Proposed
Transaction.
3.3
Exceptions to standstill
Clause 3.2 will cease to apply to SEEK at the time at which a bona fide Third
Party makes, or announces its intention to make, a takeover bid or enters into an
agreement to implement a scheme of arrangement, or offers to do either of those
things or otherwise announces a Competing Transaction, in each case, in
respect of Xref.
3.4
Standstills with other bidders
(a)
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Xref must not, during the Standstill Period, enter into a document,
arrangement or understanding with any person who is participating, or
Amended and Restated Exclusivity Deed
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5
proposes to participate, in a Competing Transaction (Competing
Bidder) which:
(i)
does not contain restrictions on that Competing Bidder and its
Affiliates which are consistent in all material respects with clause
3.2 and clause 3.3 of this document; and/or
(ii)
contains restrictions which are more favourable (in any material
respect) to that Competing Bidder and its Affiliates than the
restrictions in clauses 3.2 and 3.3 are on SEEK,
without, in either case, SEEK being offered (as soon as reasonably
practicable and in any event within 24 hours) a replacement to the
provisions in clauses 3.2 and 3.3 of this document on equivalent terms.
(b)
During the Standstill Period, Xref undertakes in favour of SEEK not to
waive, and to enforce, any standstill contemplated in clause 3.4(a) other
than a waiver in favour of, or with consent of, SEEK.
4
Termination
4.1
Termination
Subject to clause 4.2, this document, and the parties' obligations under it, will
terminate on the earliest of the following to occur:
(a)
the expiry of the Exclusivity Period; and
(b)
Xref giving SEEK written notice of termination with immediate effect
following a breach of this document or the Confidentiality Agreement by
SEEK.
No party may terminate or rescind this document except as permitted under this
clause 4.
4.2
Survival
Clauses 3, 5, 6, 7 and 8 survive termination of this document.
5
Notices
Notices and other communications in connection with this document must be in
writing. They must be sent to the address or email address referred to in the
Details and (except in the case of email) marked for the attention of the person
referred to in the Details. If the intended recipient has notified changed contact
details, then communications must be sent to the changed contact details.
6
General
6.1
Confidentiality
The parties agree that the existence and terms of this deed and any disclosure
made by one party to the other under or in connection with it are to be treated as
Confidential Information (as defined in the Confidentiality Agreement).
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Amended and Restated Exclusivity Deed
4 October 2024
6
6.2
Variation and waiver
A provision of this document, or right, power or remedy created under it, may not
be varied or waived except in writing signed by the party to be bound.
6.3
Consents, approvals or waivers
By giving any approval, consent or waiver a party does not give any
representation or warranty as to any circumstance in connection with the subject
matter of the consent, approval or waiver.
6.4
Discretion in exercising rights
Unless this document expressly states otherwise, a party may exercise a right,
power or remedy or give or refuse its consent, approval or a waiver in connection
with this document in its absolute discretion (including by imposing conditions).
6.5
Partial exercising of rights
Unless this document expressly states otherwise, if a party does not exercise a
right, power or remedy in connection with this document fully or at a given time,
they may still exercise it later.
6.6
Remedies cumulative
The rights, powers and remedies in connection with this document are in addition
to other rights, powers and remedies given in any other document or by law
independently of this document.
6.7
Counterparts
This document may consist of a number of copies, each signed by one or more
parties to it. If so, the signed copies are treated as making up a single document
and the date on which the last counterpart is executed is the date of the
document.
6.8
Entire agreement
This document and the Confidentiality Agreement constitutes the entire
agreement of the parties about its subject matter and supersedes all previous
agreements, understandings and negotiations on that subject matter.
6.9
Severability
If the whole or any part of a provision of this document is void, unenforceable or
illegal in a jurisdiction it is severed for that jurisdiction. The remainder of this
document has full force and effect and the validity or enforceability of that
provision in any other jurisdiction is not affected. This clause has no effect if the
severance alters the basic nature of this document or is contrary to public policy.
7
Definitions and interpretation
7.1
Definitions
Unless the contrary intention appears, these meanings apply:
Associate has the meaning set out in section 12 of the Corporations Act, as if
section 12(1) of the Corporations Act included a reference to this document.
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Amended and Restated Exclusivity Deed
4 October 2024
7
Business Day means a day on which banks are open for general banking
business in the place specified in the Details (not being a Saturday, Sunday or
public holiday in that place).
Competing Bidder has the meaning given to it in clause 3.4(a).
Competing Transaction means any expression of interest, proposal, offer,
agreement, arrangement, or transaction which, if entered into, completed or
implemented substantially in accordance with its terms (whether existing before,
on or after the date of this document), could result in:
(a)
a bona fide Third Party (either alone or together with any Associate),
directly or indirectly:
(i)
acquiring, or obtaining a right to acquire, an interest (including
any legal, beneficial, or economic interest) or Relevant Interest
in, or control of, 20% or more of Xref Shares;
(ii)
acquiring Control of Xref;
(iii)
acquiring, or obtaining a right to acquire, an interest (including
any legal, beneficial or economic interest) in all or a substantial
part or a material part of Xref’s business or assets; or
(iv)
otherwise acquiring, merging or amalgamating with Xref or its
Subsidiaries,
whether by way of takeover bid, scheme of arrangement, reverse
takeover, securityholder approved acquisition, capital reduction, buyback or repurchase, sale or purchase of shares, securities or assets,
assignment of assets and liabilities, incorporated or unincorporated joint
venture, dual-listed company (or other synthetic merger), deed of
company arrangement, any debt for equity arrangement, recapitalisation,
refinancing or other transaction or arrangement; or
(b)
requiring Xref to abandon, or otherwise fail to proceed with, the
Transaction.
For the avoidance of doubt, each successive material modification or variation of
any proposal, agreement, arrangement or transaction in relation to a Competing
Transaction will constitute a new Competing Transaction.
Confidentiality Agreement means the confidentiality agreement between the
parties dated on or about 21 June 2024.
Control has the meaning given to that term by section 50AA of the Corporations
Act.
Corporations Act means the Corporations Act 2001 (Cth).
Details means the section of this document headed “Details”.
Exclusivity Deed has the meaning given the Recitals.
Exclusivity Period means:
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(a)
the period from and including the date of this document to the date that
is 20 Business Days after the date of this document (being 11.59pm on 8
November 2024); and
(b)
the Extended Exclusivity Period,
Amended and Restated Exclusivity Deed
4 October 2024
8
unless this document is terminated earlier in accordance with its terms.
Extended Exclusivity Period means the period from 12.00am on 9 November
2024 to 11.59pm on 15 November 2024.
Proposed Transaction has the definition in the Details.
Related Body Corporate has the meaning it has in the Corporations Act.
Relevant Interest has the meaning it has in sections 608 and 609 of the
Corporations Act.
Representative means, in relation to a party:
(a)
a Related Body Corporate;
(b)
a director, officer or employee of the party or any of the party’s Related
Bodies Corporate; or
(c)
an adviser to the party or any of the party’s Related Bodies Corporate,
where an “adviser” means, in relation to an entity, financial adviser,
corporate adviser, legal adviser, or technical or other expert adviser or
consultant who provides advisory services in a professional capacity and
who has been engaged by that entity.
Standstill Period means the period commencing on the date of this document
and ending on the date 6 months from the date of the Confidentiality Agreement
(being 11.59pm on 21 December 2024).
Subsidiary of an entity means another entity which:
(a)
is a subsidiary of the first entity within the meaning of the Corporations
Act; or
(b)
is part of the consolidated entity constituted by the first entity and the
entities it is required to include in the consolidated financial statements it
prepares or wo
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