Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Bentley Capital Limited
  6. News
  7. Summary
    BEL   AU000000BEL0

BENTLEY CAPITAL LIMITED

(BEL)
SummaryChartsNewsCalendarCompany 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Bentley Capital : Update on Acceptance into Takeover Bid for Keybridge Capital Limited

03/12/2020 | 01:09am EDT

Thursday, 12 March 2020

ASX Code: BEL

MARKET ANNOUNCEMENT

Update on Acceptance into Takeover Bid for Keybridge Capital Limited

Bentley Capital Limited (ASX:BEL) (Bentley) refers to its previous announcement on 3 March 20201 where it stated that it had lodged acceptances in respect of all of its 31,700,000 shares in Keybridge Capital Limited (ASX:KBC) (Keybridge) into the takeover bid2 by WAM Active Limited (ASX:WAA) (WAM) at a cash price of 6.9 cents per share3 (WAA Offer).

Bentley notes that earlier today, Aurora Funds Management Limited (Aurora) as Responsible Entity of the Aurora Dividend Income Trust (ADIT) lodged a Notice of Initial Substantial Holder in Keybridge (the ADIT Substantial Holder Notice)4 disclosing that Keybridge shareholders holding 31,700,000 shares had accepted into ADIT's off market bid in Keybridge (ADIT Offer).

Bentley has ascertained that its Broker made an administrative error in the process of accepting into the WAA Offer via CHESS and had inadvertently accepted into the ADIT Offer.

The Broker has advised Bentley that is it seeking to correct this administrative error via

CHESS.

The actions of Aurora in lodging the ADIT Substantial Shareholder Notice are highly inappropriate, patently incorrect and misleading and deceptive to the market as Aurora were fully aware that Bentley had accepted into the WAA Offer for the whole of its shareholding in Keybridge.

Furthermore, Aurora, being aware of Bentley's acceptance into the WAA Offer, did not seek any clarification from Bentley prior to lodging the ADIT Substantial Shareholder Notice.

  1. Refer BEL ASX Announcement dated 3 March 2020: Update on Investment in Keybridge Capital Limited
  2. Refer WAA ASX Announcement dated 3 January 2020: Off-Market Takeover Bid for Keybridge Capital Limited
  3. Refer WAA ASX Announcement dated 24 February 2020: WAM Active Increased Bid Consideration to 6.9 cents Cash per Keybridge Share
  4. Refer Aurora's Notice of Initial Substantial Holder in Keybridge dated 12 March 2020

www.bel.com.au

BENTLEY CAPITAL LIMITED

A.B.N. 87 008 108 218

Level 2, 31 Ventnor Avenue, West Perth, Western Australia 6005

ASX : BEL

T | (08) 9214 9757

F | (08) 9214 9701

E | info@bel.com.au

20200312 BEL ASX Update on Acceptance into Takeover Bid for Keybridge Capital Limited

Bentley's lawyers have today written to Aurora advising of the following matters:

  1. Bentley confirms that it did not, and never had any intention to, accept the highly conditional, unfunded ADIT Offer;
  2. The ADIT Substantial Holder Notice is misleading and deceptive and is likely to cause both the ADIT Offer and the WAM Offer to be taking place in a market which is not efficient, competitive and informed;
  3. Bentley requires Aurora and ADIT to immediately withdraw the ADIT Substantial Holder Notice and issue a corrective disclosure; and
  4. Bentley reserves all of its rights against Aurora, ADIT and each of the directors who approved the release of the ADIT Substantial Holder Notice.

AUTHORISED FOR RELEASE BY - FOR FURTHER INFORMATION:

Farooq Khan

Victor Ho

Chairman

Company Secretary

T | (08) 9214 9757

E | cosec@bel.com.au

- 2 -

Disclaimer

Bentley Capital Limited published this content on 12 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 March 2020 06:08:06 UTC


ę Publicnow 2020
All news about BENTLEY CAPITAL LIMITED
08/27Bentley Capital Limited Reports Earnings Results for the Full Year Ended June 30, 2021
CI
02/26Bentley Capital Limited Reports Earnings Results for the Half Year Ended December 31, 2..
CI
2020Bentley Capital Limited Reports Earnings Results for the Full Year Ended June 30, 2020
CI
2020BENTLEY CAPITAL : Initial Substantial Holder Notice in YOW
PU
2020BENTLEY CAPITAL : Ceasing to be a Substantial Holder Notice for KBC
PU
2020GLOBAL MARKETS LIVE: Gap, Lufthansa, Facebooků
2020BENTLEY CAPITAL : NTA Backing as at 29 February 2020
PU
2020BENTLEY CAPITAL : Update on Acceptance into Takeover Bid for Keybridge Capital Limited
PU
2020BENTLEY CAPITAL : Update on Investment in Keybridge Capital Limited
PU
2020Bentley Capital Limited Announces Change of Address
CI
More news
Chart BENTLEY CAPITAL LIMITED
Duration : Period :
Bentley Capital Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Managers and Directors
Farooq Khan Executive Chairman
William Matthew Johnson Executive Director
Simon Kenneth Cato Non-Executive Director
Poh Hong Ho Secretary
Sector and Competitors
1st jan.Capi. (M$)
BENTLEY CAPITAL LIMITED12.68%4
HIPGNOSIS SONGS FUND LIMITED0.57%2 056
INDIA GRID TRUST8.93%1 050