The Offer Price represents a 66.7% premium to Matrix's undisturbed closing share price on 30 March 2026 (being the last trading day prior to announcement of Matrix's receipt of a non-binding indicative proposal from AIS).
AIS has declared the Offer Price as best and final, in the absence of a superior competing proposal.
The transaction follows AIS's successful ASX listing in October 2025, on which MinterEllison also advised, and represents a further step in AIS's strategy to build a market-leading technical buoyancy and subsea ancillaries platform and expand its manufacturing footprint across the Asia-Pacific region.
The transaction is being progressed against a backdrop of more cautious market conditions and a relative slowdown in announced deal activity.
Matthew Hibbins, Partner at MinterEllison, said the transaction reflects AIS's continued momentum as a listed company.
"Having advised AIS on its ASX listing last year, it's been a pleasure to continue supporting the company as it executes on its growth strategy. This transaction represents a natural next step and underscores AIS's considered and strategic approach to expansion, with a clear focus on enhancing its market position and capabilities."
AIS and Matrix are targeting implementation of the Scheme in late July 2026, subject to all conditions being satisfied or waived.
The MinterEllison team advising AIS is being led by Matthew Hibbins (Partner, M&A / Capital Markets) and Keith Tan (Special Counsel, M&A / Capital Markets), with support from Bart Oude-Vrielink (Partner, M&A / Capital Markets), Jarrod Sherwin (Senior Associate, M&A / Capital Markets) and Mary Liu (Lawyer, M&A / Capital Markets). They are supported by specialists across Tax, FIRB, Corporate and Competition.
Henslow Pty Ltd is acting as financial adviser to AIS in connection with the Scheme.
