Atturra Limited canceled the acquisition of MOQ Limited from Peter Ward and others.
August 15, 2022
Share
Atturra Limited (ASX:ATA) agreed to acquire MOQ Limited (ASX:MOQ) from Peter Ward and others for AUD 15.5 million on June 30, 2022. If the Scheme is implemented, MOQ shareholders will receive total cash consideration of AUD 0.05 per MOQ share. As of August 5, 2022, Atturra Limited (ASX:ATA) revised its offer to acquire MOQ Limited (ASX:MOQ) from Peter Ward and others for AUD 18.61 million. Atturra Limited (ASX:ATA) has increased its all-cash scheme consideration from AUD 0.05 to AUD 0.06 per MOQ share. The increase is made in response to receipt of an MOQ Competing Proposal by a third-party bidder of AUD 0.06 cash per MOQ share. As of August 11, 2022, Atturra Limited (ASX:ATA) revised its offer to acquire MOQ Limited (ASX:MOQ) from Peter Ward and others for AUD 21.7 million. Atturra Limited (ASX:ATA) has increased its all-cash scheme consideration from AUD 0.06 to AUD 0.07 per MOQ share comprising AUD 0.055 in cash and AUD 0.015 in Atturra Limited shares. The increase is made in response to receipt of an MOQ Competing Proposal by a third-party bidder of AUD 0.066 cash per MOQ share.
As of August 8, 2022, MOQ Board has determined a competing proposal from a third party for the acquisition of 100% of the shares in MOQ by way of scheme of arrangement for AUD 0.066 cash per share to be a Superior Proposal.
The MOQ Directors unanimously recommend that MOQ shareholders vote in favor of the Scheme. The implementation of the Scheme is subject to a number of customary conditions, including the approval by MOQ shareholders, court approval of the Scheme and ASIC and other regulatory approvals. and the Federal Court of Australia, and is not subject to financing or due diligence conditions. In case the Scheme is not implemented, Atturra will pay reimbursement fee of AUD 0.25 million to MOQ and vice versa. As of August 5, 2022, the reimbursement fee has been reduced from AUD 0.25 million to AUD 0.19 million. The transaction is expected to close on October 17, 2022. ANZ Corporate Advisory is acting as financial and corporate adviser and HWL Ebsworth is acting as legal adviser to Atturra. Monash Advisory is acting as financial adviser and Thomson Geer is acting as legal adviser to MOQ.
Atturra Limited (ASX:ATA) canceled the acquisition of MOQ Limited (ASX:MOQ) from Peter Ward and others on August 16, 2022.
Atturra Ltd is an Australia-based company that is engaged in providing whole-of-organization technological solutions covering service lines of advisory, business applications, data and integration, cloud services, change management and managed control solutions. Its advisory and consulting services include strategic capabilities across business operations analysis, business transformation, infrastructure, and analytics. Its business applications services include implementation and project management. Its data and integration services provide master data management (MDM) to integrate disparate information and siloed applications that simplifies complex data pipelines. Its managed services include cloud and infrastructure, modern workplace, enterprise network services, cyber security, application managed services, hardware procurement, and software procurement. It serves various industries, such as defense, financial services, education, local government, manufacturing, and utilizes.
ATTURRA LIMITED 
