Extends offer period.

Arcade Finance is now offering an increased price of $0.335 for each Godfreys share, up from the original offer price of $0.32. The offer period has now also been extended to 7 June, 2018.

In a statement published on the ASX, Arcade Finance said, “It is Arcade’s intention to support the Godfreys business, and Arcade considers that it is in the best interests of the company to finalise the offer, and allow Arcade to move on with improving the business as quickly as possible, which Arcade believes is better done in a private company environment.”

Arcade also noted that the Godfreys board recommended that shareholders accept the offer, in absence of a superior proposal, and did so on the basis set out in the bidder’s statement, including accepting the offer at the original offer price.

Arcade confirmed the acquisition of shares will be wholly in cash and if every Godfreys shareholder accepts the offer, the maximum cash consideration payable by Arcade will be $10,222,257.67.