Symbio Holdings Limited (SYM.AX) Due Diligence and Exclusivity Update

Symbio Holdings Limited (ASX:SYM) refers to its announcement on 29 August 2023 advising of the extension of exclusivity between Symbio and Superloop Limited (ASX:SLC) as the parties continued mutual due diligence in relation to the non-binding indicative proposal from Superloop to acquire all of Symbio's shares via scheme of arrangement.

At this time, whilst exclusivity between the two parties has expired, discussions remain ongoing.

Both parties have continued discussions and due diligence over the past 6 weeks to explore the potential transaction, and have sought feedback from their respective shareholder bases in relation to the proposal.

In addition, during that time, Symbio has also released FY23 results and strong growth guidance for FY24.

There is no certainty at this stage that any agreement will be reached or that a transaction will eventuate.

At the current time, shareholders do not need to take any action and the Board will update shareholders as appropriate.

Miki Kando
Executive Assistant to CEO and CTO
Phone: +61-422-832-852
Email: investor@symbio.global

Michelle Loh
Cannings Strategic Communications
T: +61 497 834 937
E: mloh@canningscomms.com.au

News Provided by ABN Newswire