Scheme Update - Federal Court Approval
Sydney, April 24, 2019 AEST (ABN Newswire) - Myob Group Ltd (
ASX:MYO) is pleased to announce that the Federal Court of Australia (Court) has today made orders approving the proposed scheme of arrangement (Scheme) between MYOB and its shareholders. The Scheme, once implemented, will result in MYOB becoming wholly owned by an affiliate of Kohlberg Kravis Roberts & Co L.P. (KKR).
MYOB confirms that it has lodged a copy of the Court's orders with the Australian Securities and Investments Commission (ASIC) today and the Scheme has become legally effective.
MYOB has requested trading in its shares to be suspended from close of trading on ASX today (Wednesday, 24 April 2019).
About Myob Group Ltd
MYOB Group Ltd (ASX:MYO) is a leading provider of online business management solutions. It makes business life easier for approximately 1.2 million businesses and accountants across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. It provides ongoing support through client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly through its Connected Practice Strategy and through the development of the MYOB Platform. For more information, follow @MYOB on Twitter or visit https://investors.myob.com.au/Investors
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