RAMcap withdraws CVF takeover proposal

FEBRUARY 25, 2021

 

Through the month of January 2021 RAMcap engaged with the directors of then listed investment company Contrarian Value Fund (‘CVF’) to propose an RTO transaction as an alternative to the then proposed winding up and delisting of CVF.
The RTO proposal was dismissed by CVF and RAMcap subsequently emailed CVF on 25 January in which RAMcap stated its intention to make a conditional cash only takeover offer for CVF.
The stated condition precedent to the making of the takeover offer was that ‘none of the 5 resolutions to be put to CVF shareholders at the Extraordinary General Meeting, scheduled for 4 th February 2021 (‘EGM’) are passed.’
RAMcap notes today’s ASX announcement that all 5 subject resolutions were carried.
Accordingly, RAMcap withdraws its proposed takeover offer.
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