Wollar Solar Holding Pty Ltd agreed to acquire TPC Consolidated Limited (ASX:TPC) for AUD100 million on March 28, 2024. The implementation of the Scheme is subject to a number of conditions which include Approval of TPC shareholders by the requisite majorities, The Independent Expert?s Report concluding that the Scheme is in the best interests of TPC shareholders, Court approval, Foreign Investment Review Board approval, BJEI Holding obtaining the approval of its shareholders. The TPC Board unanimously recommends that TPC shareholders vote in favour of the Scheme, in the absence of a Superior Proposal7 and subject to an Independent Expert concluding and continuing to conclude that the Scheme is in the best interests of TPC shareholders.

A break fee of AUD1 million and a reverse break fee of AUD1 million have also been agreed between TPC and WSH. Implementation of the Scheme is expected to occur in the third quarter of 2024. TPC is being advised by Deloitte M&A Advisory, Allens acted as legal advisor to TPC Consolidated Limited