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Arnold Bloch Leibler advises Redcape on ASX delisting

Banking & Finance, Capital Markets, Corporate and M&A
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Arnold Bloch Leibler has advised leading Australian hospitality group, Redcape Hotel Group, on its delisting from the ASX.

Corporate and M&A partners Jeremy Leibler and Scott Phillips led the transaction with Banking & Finance partner Genevieve Sexton, and were assisted by senior associate Vidushee Deora, lawyer Max Grunwald and law graduate Kaitie Boyd.

Scott Phillips commented: “We’re pleased to have advised Redcape on this important transaction. Redcape has a very experienced leadership team, a high-quality portfolio and has a consistent track record of delivering strong operational performance. We wish Redcape continued success as they embark on the next stage of their growth strategy.”

As reported in The Australian, the decision to delist follows four years on the ASX and aims to provide securityholders a greater potential to exit their investment at close to Redcape’s net asset value. Redcape’s Chief Executive Officer, Dan Brady said: “We’ve had a lot of terrific support from our lenders, we’ve had support by virtue of outstanding performance for our communities. This allows the organisation to get on with growing, but also gives security holders a terrific outcome either way they choose.”

The delisting will provide shareholders with the option to remain invested in Redcape or participate in an off-market buyback. The proposal is set to go to a securityholder vote on 10 September 2021.

About Arnold Bloch Leibler

Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, private businesses, high-net-worth individuals and international corporations. The firm also has a dedicated public interest practice providing advice to charities and not-for-profit organisations relating to significant legal, social, environmental and cultural issues.

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