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Non-bank eyes RHG purchase

by Staff Reporter7 minute read

RESIMAC has announced its plans to acquire 100 per cent of the ordinary shares in RHG.

According to a statement on the Australian Securities Exchange website, RHG (the remnants of RAMS) has entered into a Merger Implementation Deed arrangement with a syndicate comprising RESIMAC and the Australian Mortgage Acquisition Company.

Under the terms of the deed, RESIMAC syndicate will acquire 100 per cent of the ordinary shares in RHG for a cash consideration of 44.1 cents per share.

RESIMAC first signalled its intentions to buy RHG last week, issuing an initial directors’ interest notice on July 6.

Since then, the directors of RHG have written to their shareholders and encouraged them to “unanimously vote in favour of the scheme in the absence of a superior proposal”.

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