Following a recount of votes from PointsBet shareholders, the takeover by Mixi has not been carried.
A first count of the votes declared support for the Mixi takeover of 95.69 per cent. However, PointsBet yesterday declared it had been made aware of a system error which excluded the Betr proxy vote.
Betr demanded a recount and the updated results show only 70.48 per cent in favour – below the threshold of 75 per cent which is needed to pass decision at the shareholder level.
Despite the current proposal now being rejected, Mixi has amended its proposal, with an all-cash offer valued at AU$402m, offering a premium of 44.6 per cent to the closing share price on February 25, 2025, of $0.83 per PointsBet share.
PointsBet has agreed to recommend shareholders accept this amended offer with the minimum percentage at 50.1 per cent.
