MYOB Group Limited (ASX:MYO) is pleased to announce that at a meeting held in Sydney earlier today, the scheme of arrangement (Scheme) pursuant to which MYOB will be acquired by an affiliate of Kohlberg Kravis Roberts & Co. L.P. was approved by the requisite majorities of MYOB shareholders.
Myob Group Ltd
MYOB Group Ltd (ASX:MYO) is a leading provider of online business management solutions. It makes business life easier for approximately 1.2 million businesses and accountants across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. It provides ongoing support through client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly through its Connected Practice Strategy and through the development of the MYOB Platform. For more information, follow @MYOB on Twitter or visit http://investors.myob.com.au/Investors
In accordance with ASX Listing Rule 3.13.3, attached to this announcement is a copy of the address to be given by the Chairman of MYOB Group Limited (ASX:MYO), Mr Justin Milne, to the attendees of the Scheme Meeting
MYOB Group Limited (ASX:MYO) notes the receipt by the Company this afternoon of a letter from Manikay Partners in relation to the proposed scheme of arrangement.
MYOB Group Limited (ASX:MYO) refers to the proposed scheme of arrangement as detailed in the scheme booklet dated 13 March 2019 under which Kohlberg Kravis Roberts & Co. L.P. will acquire, for $3.40 per share all cash consideration, all of the shares in MYOB it does not already own1 by way of scheme of arrangement.
The Directors present their report on the consolidated entity consisting of MYOB Group Limited (ASX:MYO) and the entities it controlled at the end of, or during, the financial period ended 31 December 2018.
MYOB Group Limited (ASX:MYO) notes the receipt by the Company of a letter from ETA Australia Holdings III Pty Ltd (an affiliate of Kohlberg Kravis Roberts & Co. L.P.) after market close on 19 March 2019 in relation to the proposed scheme of arrangement.
MYOB Group Limited (ASX:MYO) is pleased to announce that the Federal Court of Australia has approved the convening of a meeting of MYOB Shareholders to vote on the Scheme for the proposed acquisition by KKR of all the remaining shares in MYOB that it does not currently own.
MYOB Group Limited (ASX:MYO) notes the recent change in the substantial shareholding notice filed by Manikay Partners LLC and its affiliates on 4 March 2019 increasing their holding to 9.99%, and the receipt by the Company of a letter from Manikay, attached as an appendix.
Myob Group Ltd (ASX:MYO) Conclusion of Go Shop Period in Relation to the Scheme of Arrangement with KKR
MYOB Group Limited (ASX:MYO) today announced, that the 'go shop' period in relation to the KKR Scheme has now concluded. The 'go shop' provisions permitted MYOB and its advisers to solicit competing proposals, and with a commitment from KKR to sell its shareholding into, or vote in favour of, any Qualifying Superior Proposal.
MYOB Group Limited (ASX:MYO), a leading provider of online business management solutions to Australian and New Zealand businesses is pleased to announce its full year results for the 12 months ended 31 December 2018.