Insignia Financial Ltd (ASX: IFL) refers to its announcement on 17 January 2025 in relation to the revised, non-binding and indicative proposal it received from CC Capital Partners, LLC to acquire all of the shares in Insignia Financial by way of a scheme of arrangement at a price of A$4.60 cash per share (as adjusted for any dividends paid or payable after the date of the proposal) (CC Capital Revised Indicative Proposal).
The Board of Insignia Financial has carefully considered the CC Capital Revised Indicative Proposal.
In order to determine if CC Capital is able to formulate a further improved proposal from that reflected in the CC Capital Revised Indicative Proposal, Insignia Financial has offered to provide to CC Capital a limited period of access to certain non-public information on a non-exclusive basis. The provision of this information is subject to certain conditions, including the signing of an appropriate confidentiality and standstill agreement by CC Capital.
The provision of limited due diligence does not guarantee that the CC Capital Revised Indicative Proposal will result in a binding offer or one that is capable of being recommended by the Board of Insignia Financial.
IFL shareholders do not need to take any action. Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations but it will not otherwise be commenting on the process that is now underway with CC Capital.
Insignia Financial has engaged Citigroup and Gresham Advisory Partners as its financial advisers and King & Wood Mallesons as its legal adviser.
Insignia Financial will release its 2Q25 Business Update on 23 January 2025 and announce its 1H25 results on 20 February 2025.
This announcement was approved for release by the Board of Insignia Financial Ltd.