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Vonex Limited ( (AU:VN8) ) has provided an update.
Vonex Limited has entered into a Scheme Implementation Deed with Maxo Telecommunications Pty Ltd, where MaxoTel will acquire all remaining shares in Vonex for 3.60 cents per share. Swoop Holdings Limited, a significant shareholder in Vonex, supports the Scheme and plans to vote in favor, resulting in approximately $6.17 million in cash proceeds for Swoop. This transaction will enable Swoop to exit its investment in Vonex, allowing the company to concentrate on its core growth priorities and redeploy capital into strategic initiatives or acquisitions.
More about Vonex Limited
Swoop is a national provider of data, mobile, and voice services targeting channel, business, and residential customers. The company focuses on its proprietary fibre and fixed wireless infrastructure, aiming to become Australia’s leading challenger in the internet and telecommunications sector.
Average Trading Volume: 116,152
Technical Sentiment Signal: Sell
Current Market Cap: A$15.05M
See more data about VN8 stock on TipRanks’ Stock Analysis page.