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.
| 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) |
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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:
- 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.
- 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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