The current shareholders, EV Hospitality and UBSAHPL, will retain their current respective investments in Mantra and will enter into voluntary escrow agreements. Certain members of Mantra management will convert a majority portion of their exiting share options into Mantra shares upon listing and will similarly enter into voluntary escrow agreements.
The Offer comprises:
o A "Broker Firm Offer", which is open to Australian and
o An "Institutional Offer", which consists of an invitation to bid for shares made to
o A "Property Owner Offer", which is open only to eligible Property Owners who are
o A "Priority Offer", which is open to Eligible Employees and certain other
Peppers, which has been operating as a luxury brand for 30 years, is a collection of retreats, resorts and hotels with a strong focus on high-quality food and wine.
Breakfree properties are positioned as quality but affordable resorts and serviced apartments in both capital city and regional leisure destinations.
"The segments of the Australian accommodation industry to which
Mantra has a strong financial track record and attractive growth outlook. It operates a capital-light business model and has maintained consistently strong cash-flow generation over the past three years.
The current timetable for the offer is as follows:
Retail Offer opens:
Retail Offer closes and Applications due:
Expected commencement of trading on a conditional and deferred settlement basis on ASX:
Trading commences on an unconditional and deferred settlement basis on ASX:
Expected despatch of holding statements:
Expected commencement of trading on normal settlement basis on ASX:
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