WAM Capital Limited (WAM), is putting to amaysim Shareholders its Offer, that is unanimously recommended by the amaysim Board, to acquire up to 100% of Shares in amaysim Australia Limited (amaysim) for either:

  • 1 WAM Share for every 2.675 amaysim Shares, representing A$0.8561 of implied value per amaysim Share (the Scrip Consideration);
  • cash consideration of A$0.70 per amaysim Share (the Cash Consideration); or
  • a combination of Cash Consideration and Scrip Consideration.

Accepting amaysim Shareholders will receive Cash or Scrip Consideration within five Business Days of the processing of valid acceptances into the Offer.

amaysim's Directors have unanimously recommended that amaysim Shareholders accept the Offer in the absence of a superior proposal. The implied value of the Scrip Consideration reflects a 31.7% premium to amaysim' one-month volume-weighted average price (VWAP) up until 30 October 2020 (being the last trading day for amaysim prior to the Mobile Sale being announced) and a 15.6% premium to amaysim's VWAP since the Mobile Sale was announced.

amaysim Shareholders who accept the Offer and elect to receive WAM Shares as Scrip Consideration will also be entitled to WAM's upcoming fully franked interim dividend of A$0.0775 per WAM Share. To be eligible for the WAM dividend, accepting amaysim Shareholders must hold their WAM Shares issued under the Offer on the dividend's record date, being 1 June 2021.

Acquiring WAM Shares provides access to Wilson Asset Management's investment expertise and experience, its commitment to shareholder engagement, WAM's track record of investment portfolio outperformance, greater market capitalisation and superior on-market liquidity.



1 Based on WAM's closing price of $2.29 per share on 18 January 2021 when the Offer consideration was increased by WAM. The implied value of the Offer (measured by reference to the Scrip Consideration) depends on the value of WAM's share price at the time of any acceptance into the WAM offer.


Important Dates

02

Feb

Date of the Bidder's Statement and the Target's Statement


02

Feb

Date of Offer and date Offer opens


30

MAR

7.00 pm

Offer closes (unless extended or withdrawn)




All times and dates set out above are references to the time and date in Sydney, Australia and all such times and dates are subject to change. Capitalised terms used on this website have the same meaning as in the Bidder's Statement, unless otherwise defined.