VN8 - Vonex Limited

Acquisition strategy remains a key focus and several late-stage opportunities are currently in progress.

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VN8 has been in a Trading Halt, now Suspension, pending the release of an announcement regarding a material acquisition

Next Investors Pumped VN8 with no flicker on SP by market.
In fact price went down by 4 pc

ran up in 2020 , but 2021 has been disappointing. Diluting acquisitions? Whatever it achieved before, the company seems to have given back.

Vonex Completes Acquisition of Voiteck and Delivers Strong Organic Growth

Following the acquisition of the Direct Business operations from MNF Group in August 2021, the Company has continued to deliver growth in both SME customer numbers as well as contracted revenue. TCV for new customer sales added in the month of November 2021 exceeded $1 million, being the strongest ever month of sales for the Company's Retail operations. This result represents an increase of 50% compared to November 2020. Vonex has now attracted approximately 90,000 registered active users to its PBX cloud-based phone service, a key indicator of the Company's business development progress.

Vonex (VN8) is set to acquire 100 per cent of the shares in telecommunications business OntheNet for $9.6 million.

The acquisition price comprises $7.7 million in cash payable on the completion of the deal and $1.9 million worth of escrowed shares.

... and VN8 seems to be holding the increase, despite jumping around a bit, since the late May run and ASX query soon after.

1. Is VN8 aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?

The Company is not aware of any specific reason for the recent share trading.

We are aware that a Simply Wall Street article was published at the end of last week which may have influenced some investors. In addition, as we advised the market in November 2023, the Company continues to undertake a process to identify whether a corporate transaction might be in the best interests of shareholders. This process was in response to having received a number of unsolicited approaches from parties interested in merging or acquiring Vonex.

Again, as also advised in the Chair’s address to the Company’s AGM, the process, undertaken with the assistance of the Company’s corporate advisers, Latimer Partners, has resulted in a couple of non-binding indicative offers for a potential transaction. While these are not yet opportunities that have progressed to a point where the Board could recommend to Shareholders, we will continue to work to determine if any transaction can be reached that would be of benefit to Shareholders. Of course, there can be no guarantee that any such transaction will eventuate.

noirua said:

Vonex (ASX:VN8) to acquire OntheNet for $9.6m

Vonex (ASX:VN8) is set to acquire 100 per cent of the shares in telecommunications business OntheNet for $9.6 million.

themarketherald.com.au

Vonex (VN8) is set to acquire 100 per cent of the shares in telecommunications business OntheNet for $9.6 million.

The acquisition price comprises $7.7 million in cash payable on the completion of the deal and $1.9 million worth of escrowed shares.

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Vonex is such a key player in the industry, It's evidenced by the significant increase in SME customer numbers and contracted revenue, the growth has been continuous for a while now

acquisition strategy... get taken over

Vonex enters Scheme of Arrangement with MaxoTel
• Vonex and MaxoTel have entered a Scheme Implementation Deed:
o MaxoTel to acquire Vonex for 3.75 cents per share by way of a scheme of arrangement
o 3.75 cents per share is a 108% premium to the closing price of 1.80 cents on 24 June 2024
• MaxoTel is an Australian telecommunications provider, offering best-in-class VoIP, hosted PBX and SIP trunking solutions. MaxoTel is privately owned and headquartered in Queensland.
• Vonex’s Board unanimously recommends that shareholders vote in favour of the Scheme o in the absence of a superior proposal

where we at ?

Vonex Limited (ASX: VN8) today received the attached letter from Maxo Telecommunications Pty Limited, stating their intention not to accept the Swoop Telecommunications Pty Limited off-market takeover bid lodged today.

MaxoTel controls 27.19% of Vonex shares, and – hence – any reference in the Swoop Bidder’s Statement to matters which may take place should Swoop acquire 75% or more of the Company cannot now be realised.

The Vonex Board will consider the Swoop Bidder’s Statement and prepare a Swoop Target’s Statement in response. The Company has also previously asked that Swoop address a number of questions, some of which do not appear to have been addressed in the Swoop Bidder’s Statement. The Company will follow up areas where it believes additional information is required or beneficial to Vonex shareholders in considering the proposal.

However, at a high level, the lack of a cash component or alternative and the conditional nature of the offer makes it difficult for the Vonex Board to view Swoop’s offer as superior to the MaxoTel offer, which is unconditional, for 4.4 cents cash and capable of acceptance by Vonex shareholders now.

The Vonex Board recommends that shareholders take no action in relation to the Swoop Offer, pending the release of the Swoop Target’s Statement.

Current recommended MaxoTel Offer remains open

Vonex has previously received an unconditional on-market takeover offer from MaxoTelecommunications Pty Ltd for 4.4c cash per Vonex share, which is currently open to Vonex shareholders until 4.00pm on 9 December 2024 (having been extended by MaxoTel earlier today).
The Vonex Board confirmed in its Target’s Statement in relation to the MaxoTel Offer that itrecommends that shareholders accept that offer, in the absence of a superior proposal.