The former RAMS loanbook RHG has been placed in voluntary suspension at the company's request while discussions continue about another takeover offer from Resimac.
In a statement to the Australian Securities Exchange (ASX) yesterday morning, RHG asked for the suspension to continue until the release of an announcement about Resimac’s latest offer.
Pepper and Resimac have been in a tug-of-war for the past month over RHG, with Pepper last week adding a sweetener to their proposal.
Pepper said they would give eligible shareholders the chance to sell unmarketable parcels of Cadence shares without brokerage costs, and to top up their holdings of Cadence shares free of brokerage.
The RHG board has already accepted the Resimac syndicate's earlier takeover offer to acquire all shares in RHG for cash consideration of 49.5 cents per share, but Pepper and Cadence say their counterproposal of 50.8 cents per share is superior.