galumay
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Probably institutional rebalancing for index funds etc. Nothing to see I suspect.
JLG - Johns Lyng Group
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Johns Lyng Group Limited (ASX: JLG) – Trading Halt
Dona Ferentes
Beware of geeks bearing grifts
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a bit in the AFR
A more than 50 per cent decline in Johns Lyng Group’s share price this year has one local private equity group amped up about a potential turnaround.
The property services business, which is capitalised at $719 million, has received a takeover approach from Pacific Equity Partners. PEP started sniffing around the business last year and has in recent weeks secured exclusivity. The Sydney buyout firm is well-entrenched in due diligence, but there is no certainty an agreed deal will eventuate.
also, director / CEO bought a Byron Bay pub
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Thank you Dona....I bought the stock in the low 2s, so hopefully something eventuates out of this.
galumay
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Surely PEP wouldn't be stupid enough to buy JLG??!! I mean the most basic due diligence will expose whats under the hood.
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So what's under the Hood.....Please Explain!
galumay
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Its all in the Financial Statements, hence my comment about basic due diligence.
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So Not Really based on Fact?.....Just an opinion based on your own due diligence?
galumay
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Hopefully the audited Financial Statements are based on Fact!!
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Johns Lyng Group Receives Conditional and Non-Binding Indicative Proposal from PEP Reference is made to the article in the 'Street Talk' column of the Australian Financial Review this morning
Johns Lyng Group (ASX: JLG) (JLG or the Company) confirms that after market close on 16 May 2025 it received a non-binding indicative offer proposal from Pacific Equity Partners, on behalf of funds it advises, (PEP) to acquire 100% of the issued shares of the Company by way of a scheme of arrangement (Indicative Proposal),with certain members of JLG’s senior management team including JLG’s largest shareholder, Scott Didier,Managing Director and Chief Executive Officer, being offered the opportunity to receive scrip consideration toretain an interest in the JLG business.
The Indicative Proposal is subject to a number of conditions customary for transactions of this nature.An Independent Board Committee, comprising JLG Non-executive Chair, Peter Nash, and non-executive directors, Peter Dixon, Alison Terry and Alexander Silver was formed following the receipt of the Indicative Proposal.
The Independent Board Committee has decided to grant PEP a period of exclusivity to facilitate PEP’ sconfirmatory due diligence process to enable PEP to put forward a binding offer.This period of exclusivity expires at 5.00pm (Sydney, Australia time) on 11 July 2025, during which the customary fiduciary exception will not apply for the 4 weeks commencing 29 May 2025. A copy of the Exclusivity Deed between JLG and PEP dated 29 May 2025 is attached to this announcement.Shareholders do not need to take any action in relation to the Indicative Proposal.
It should be noted that thereis no certainty that the discussions with PEP will result in any transaction and no assurance is given that atransaction will proceed. Any such transaction would require approval by JLG's Independent Board Committee,and be subject to approval from the Foreign Investment Review Board and ultimately subject to approval fromJLG’s shareholders and the Court (among other conditions)
UP 15%....Thank you!
Johns Lyng Group (ASX: JLG) (JLG or the Company) confirms that after market close on 16 May 2025 it received a non-binding indicative offer proposal from Pacific Equity Partners, on behalf of funds it advises, (PEP) to acquire 100% of the issued shares of the Company by way of a scheme of arrangement (Indicative Proposal),with certain members of JLG’s senior management team including JLG’s largest shareholder, Scott Didier,Managing Director and Chief Executive Officer, being offered the opportunity to receive scrip consideration toretain an interest in the JLG business.
The Indicative Proposal is subject to a number of conditions customary for transactions of this nature.An Independent Board Committee, comprising JLG Non-executive Chair, Peter Nash, and non-executive directors, Peter Dixon, Alison Terry and Alexander Silver was formed following the receipt of the Indicative Proposal.
The Independent Board Committee has decided to grant PEP a period of exclusivity to facilitate PEP’ sconfirmatory due diligence process to enable PEP to put forward a binding offer.This period of exclusivity expires at 5.00pm (Sydney, Australia time) on 11 July 2025, during which the customary fiduciary exception will not apply for the 4 weeks commencing 29 May 2025. A copy of the Exclusivity Deed between JLG and PEP dated 29 May 2025 is attached to this announcement.Shareholders do not need to take any action in relation to the Indicative Proposal.
It should be noted that thereis no certainty that the discussions with PEP will result in any transaction and no assurance is given that atransaction will proceed. Any such transaction would require approval by JLG's Independent Board Committee,and be subject to approval from the Foreign Investment Review Board and ultimately subject to approval fromJLG’s shareholders and the Court (among other conditions)
UP 15%....Thank you!
