Pacific Smiles board recommends Genesis Bidco's $2.20 cash offer

Pacific Smiles Group Limited (ASX: PSQ) has announced that its independent board committee unanimously recommends shareholders accept a $2.20 cash per share off-market takeover bid from Beam Dental Bidco Pty Ltd (Genesis Bidco). The offer, which is unconditional and considered "best and final" by Bidco in the absence of a competing proposal, closes at 7:00pm (Sydney time) on 17 November 2025. This recommendation is contingent on the independent expert continuing to conclude the offer is fair and reasonable to non-associated shareholders.

Genesis Bidco, which already holds an 89.27% relevant interest in Pacific Smiles, intends to compulsorily acquire any outstanding shares if it meets the necessary thresholds under the Corporations Act. The independent expert's report values Pacific Smiles shares between $2.13 and $2.56. The $2.20 offer price represents a significant 37.5% premium to the last closing price of shares on 9 October 2025.

Shareholders are encouraged to read both the bidder's statement and the target's statement carefully and seek professional advice before deciding. Instructions for online and postal acceptance of the offer have been provided, along with contact information for shareholder queries. The transaction includes no stamp duty or brokerage fees for direct acceptances in issuer sponsored holdings.