Due Diligence and Exclusivity Update
Sydney, Sep 12, 2023 AEST (ABN Newswire) - 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.
About Symbio Holdings Limited
Symbio's technology replaces old-fashioned telecom networks with software, making it faster and easier to deliver modern cloud-based communication services, unlocking endless new applications for calling, messaging and phone numbers.
Symbio is the backbone for the global cloud communication industry. Over 500 service providers - from telecom start-ups to the world's biggest software companies - rely on Symbio for the connectivity, quality and expertise they need to solve complex communication challenges.
Headquartered in Sydney, Symbio powers billions of calls and messages each year, owns networks in three countries and employs over 450 staff worldwide.
For more information about Symbio visit www.symbio.global
Symbio Holdings Limited