WAM Capital (WAM) has declared that its takeover bid for the entire issued share capital of Wealth Defender Equities (WDE) is now unconditional after earlier this month the independent directors of WDE had recommended its shareholders accept the offer, free of defeating conditions.
Under the terms of the agreement, all WDE shareholders who would accept WAM Capital’s offer before it closes on 26 October, would receive WAM Capital shares on 2 November, paid as a fully franked WAM Capital final dividend of 7.75 cents per share on 26 November.
At the same time, the firm warned those of its shareholders who chose not to accept the WAM offer that:
- WDE’s share price was expected to fall,
- WDE might be delisted from the Australian Exchange Securities,
- And that they would not receive the fully franked WAM Capital dividend.