Kip McGrath Stake Tops 91% as Crimson Plans Buyout of Rest

Crimson Australia now holds 91.40% of Kip McGrath shares under its takeover offer, which opens the door to buying out every remaining shareholder.
By Josua Ferreira -
  • Crimson Australia holds 91.40% of Kip McGrath shares as of 29 October 2026, above the 90% level needed to buy out the rest.
  • It intends to compulsorily acquire all remaining shares and will send notices to shareholders who have not accepted.
  • The offer closes at 7.00pm Melbourne time on 4 November 2026, unless extended further.
  • Shareholders who accept before the close are paid more quickly than those who wait for the forced buyout.
  • The raised $0.75 offer, up from $0.73, led the directors to back acceptance after earlier recommending rejection.
Summarise with AI:

Crimson Australia reaches 91.40% of Kip McGrath shares

As of 29 October 2026, Crimson Australia holds a relevant interest in 91.40% of the shares in Kip McGrath Education Centres Limited under its off-market takeover offer. The update, dated 30 October 2026, sets out where the Crimson Australia takeover offer for Kip McGrath stands.

The bidder is Crimson Consulting Australia Pty Ltd (ACN 600 634 991), a wholly owned subsidiary of Crimson Consulting Limited, a New Zealand incorporated company. The offer is made under Chapter 6 of the Corporations Act 2001 (Cth) for all the shares in Kip McGrath.

A holding above 90% is the level at which compulsory acquisition of the remaining shares becomes the stated next step.

Crimson Australia Takeover Progress

Item Detail
Relevant interest **91.40%** (as of **29 October 2026**)
Bidder Crimson Australia
Target Kip McGrath
Offer close **7.00pm (Melbourne time), 4 November 2026** (unless extended further)

Compulsory acquisition of remaining shares to commence

With a relevant interest in more than 90% of Kip McGrath shares, Crimson Australia intends to compulsorily acquire all of the remaining Kip McGrath shares.

Notices will be dispatched to all shareholders who have not accepted the takeover offer at the date of dispatch. For holdouts, this points to a defined end-state, with Crimson Australia heading toward full ownership of the company.

Kip McGrath’s FY26 annual results showed net profit up 2.1% to $2.3 million on a debt-free balance sheet, the financial position that holdouts weigh against a defined path to full ownership.

How compulsory acquisition works for shareholders

A takeover offer is a bidder’s proposal to buy shares directly from a company’s shareholders. When a bidder’s holding passes 90%, the bidder can move to acquire the shares of those who have not accepted, which is the course Crimson Australia has said it intends to take.

The path to this holding followed the raised $0.75 offer, which lifted the price from $0.73 and prompted the Kip McGrath directors to withdraw their earlier reject recommendation and back acceptance.

For remaining holders, the choice affects when they are paid:

  • Accepting the takeover offer by the closing time: quicker payment
  • Waiting for compulsory acquisition: slower payment than accepting

What happens next for Kip McGrath shareholders

Two events are set out for shareholders:

  1. Takeover offer closing: 7.00pm (Melbourne time) on 4 November 2026, unless extended further. Kip McGrath shareholders who have not accepted may still do so until then, which results in quicker payment than under compulsory acquisition.
  2. Compulsory acquisition notices: to be dispatched by Crimson Australia to all shareholders who have not accepted at the date of dispatch.

Shareholders who accept before the closing time of 7.00pm (Melbourne time) on 4 November 2026 receive quicker payment than under compulsory acquisition.

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Frequently Asked Questions

What is compulsory acquisition of shares?

Compulsory acquisition lets a bidder that holds more than 90% of a company buy the shares of everyone who has not accepted its offer.

How much of Kip McGrath does Crimson Australia own?

As of 29 October 2026, Crimson Australia holds a relevant interest in 91.40% of Kip McGrath shares under its takeover offer.

When does the Kip McGrath takeover offer close?

The offer closes at 7.00pm Melbourne time on 4 November 2026, unless it is extended further.

What should Kip McGrath shareholders know about accepting the offer?

Shareholders who accept before the closing time are paid more quickly than those who wait for compulsory acquisition. Crimson Australia will send notices to everyone who has not accepted.

What price is Crimson Australia offering for Kip McGrath shares?

The raised offer is $0.75 per share, up from $0.73. The Kip McGrath directors backed acceptance after the increase.

Josua Ferreira
By Josua Ferreira
Partnership Director
Josua Ferreira holds a Bachelor of Commerce in Marketing and Advertising and brings a background in publication, business development, and ASX market storytelling. He has worked with listed companies across the resource sector and broader market, combining sharp commercial instincts with a genuine commitment to keeping investors informed.
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