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Mustek - TRP investigation and settlement
Novus indicated to Mustek Shareholders in the Circular that it anticipates receiving a certificate of compliance from the TRP on Friday, 1 August 2025.
However, the TRP has received certain complaints and, after considering these complaints, the TRP has initiated an investigation ("TRP Investigation") into, inter alia, Novus' and Mustek's conduct in relation to the Mandatory Offer. Novus and Mustek are engaging with the TRP to resolve the TRP Investigation as soon as possible and will provide Mustek Shareholders with updates when appropriate.
Mustek Shareholders were advised that the TRP cannot issue a certificate of compliance whilst the TRP Investigation is ongoing and accordingly, in the absence of obtaining a certificate of compliance from the TRP, Novus, as the offeror, cannot proceed to implement or give effect to (i) the Mandatory Offer; and/or (ii) the Comparable Offer, until such time as the TRP has issued a compliance certificate. Accordingly, Novus cannot commence settling the Offer Consideration and/or the Comparable Offer Consideration.
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