Hancock & Gore Submits Non-Binding Takeover Proposal for H&G High Conviction; Shares of H&G Jump 9%

MT Newswires Live

Jan 13

Hancock & Gore (ASX:HNG) submitted a non-binding acquisition proposal to acquire all assets of H&G High Conviction (ASX:HCF) in an all-scrip deal at an issue price of AU$0.30 per share.

The takeover proposal values HCF's assets at AU$1.00 per share, less transaction costs and dividends, the filing said.

Hancock & Gore currently holds a 20.4% stake in HCF through its unit, H&G Investment Management, the company said.

The acquisition aims to simplify Hancock & Gore's structure, increase balance sheet equity by around AU$20 million, support its Global Uniform Solutions growth, and reduce funds management activity, the company added.

The deal remains subject to board and shareholder approvals.

In a separate bourse filing, H&G High Conviction said it is in talks with Hancock and Gore related to the proposal, however, there is no certainty that the matter may lead to a transaction.

Shares of H&G High Conviction jumped 9% in recent Monday trade.

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Gore (ASX:HNG) submitted a non-binding acquisition proposal to acquire all assets of H&amp;G High Conviction (ASX:HCF) in an all-scrip deal at an issue price of AU$0.30 per share.</p><p>The takeover proposal values HCF's assets at AU$1.00 per share, less transaction costs and dividends, the filing said.</p><p>Hancock &amp; Gore currently holds a 20.4% stake in HCF through its unit, H&amp;G Investment Management, the company said.</p><p>The acquisition aims to simplify Hancock &amp; Gore's structure, increase balance sheet equity by around AU$20 million, support its Global Uniform Solutions growth, and reduce funds management activity, the company added.</p><p>The deal remains subject to board and shareholder approvals.</p><p>In a separate bourse filing, H&amp;G High Conviction said it is in talks with Hancock and Gore related to the proposal, however, there is no certainty that the matter may lead to a transaction.</p><p>Shares of H&amp;G High Conviction jumped 9% in recent Monday trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HCF.AU","symbol_name":"H&G High Conviction Ltd","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2503480823","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2503480823","pubTimestamp":1736737248,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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