ASX:LPE - Bidder's Statement

Bidder's Statement

Released 16 Apr 2024 - 9:43 AM

Announcement PDF Partner Contact Our ref Nirangjan Nagarajah Nirangjan Nagarajah T +61 3 8656 3389 nnagarajah@gtlaw.com.au NVN:NVN:1058096 16 April 2024 L 25, 101 Collins Street Melbourne VIC 3000 AUS GPO Box 90 Melbourne VIC 3001 T +61 3 8656 3300 F +61 3 8656 3400 www.gtlaw.com.au The Manager Market Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000 Dear Sir/Madam Takeover bid by River Capital Pty Ltd as trustee for River Capital Embedded Network Trust for Locality Planning Energy Holdings Limited – Bidder's Statement We act for River Capital Pty Ltd (ACN 073 531 469) as trustee for River Capital Embedded Network Trust (River Capital). We attach, by way of service pursuant to item 5 of subsection 633(1) of the Corporations Act 2001 (Cth) (Corporations Act), a copy of River Capital’s bidder’s statement in relation to its off-market takeover bid under Chapter 6 of the Corporations Act for all of the ordinary shares in Locality Planning Energy Holdings Limited (ACN 147 867 301) (ASX:LPE) (LPE) which River Capital and its related entities do not already own (Bidder’s Statement). A copy of the Bidder’s Statement was today lodged with the Australian Securities and Investments Commission and was sent to LPE today. Yours faithfully Gilbert + Tobin Nirangjan Nagarajah Partner +61 3 8656 3389 nnagarajah@gtlaw.com.au This is an important document and requires your immediate attention. If you are in any doubt about how to deal with this document, you should contact your legal, financial, tax or other professional adviser immediately. Bidder’s Statement ACCEPT the Offer by River Capital Pty Ltd (ACN 073 531 469) as trustee for River Capital Embedded Network Trust to acquire all of your shares in Locality Planning Energy Holdings Limited (ACN 147 867 301) for $0.08 cash per share To accept the Offer you must log in to https://investor.automic.com.au/#/home and complete and follow the instructions or sign the Acceptance Form enclosed with this Bidder’s Statement and return it to the address set out on the form before the Offer closes. The Offer closes at 5.00pm (AEST) on [●] 2024, unless extended or withdrawn. Offer Information Line: 1300 103 390 (within Australia) or +61 2 8072 1415 (outside Australia) Legal Adviser Contents Page Important notices 1 1 How to accept the Offer 4 2 Key dates 6 3 Letter to LPE Shareholders 7 4 Why you should accept the Offer 9 5 Summary of the Offer 13 6 Information on River Capital and the River Capital Group 17 7 Information on LPE and the LPE Group 18 8 Information on LPE securities 20 9 Sources of consideration 23 10 River Capital’s intentions in relation to LPE 24 11 Tax considerations 28 12 Additional information 32 13 The terms and conditions of the Offer 34 14 Definitions and interpretation 48 15 Approval of Bidder’s Statement 52 Corporate Directory 53 Important notices Bidder’s Statement This document is a Bidder’s Statement issued by River Capital Pty Ltd (ACN 073 531 469) (Bid Trustee) as trustee for River Capital Embedded Network Trust (Bid Trust) (River Capital) under Part 6.5 of the Corporations Act. Bid Trustee is controlled by RC Strategic Investments Pty Ltd (ACN 652 230 218), an entity controlled by entities associated with Mr Barry Carp, Ms Suzi Carp and Mr James Craig, and Bid Trustee acts as trustee and manager for Bid Trust, River Capital Dividend Plus Fund (Dividend Plus Fund) and River Capital Founders Fund (Founders Fund) (such entities and persons being the River Capital Group). This Bidder’s Statement is dated 16 April 2024 and includes an offer to acquire all LPE Shares (other than those already owned by River Capital Group) (Offer). This Bidder’s Statement is an important document and you should read it in its entirety. ASIC A copy of this Bidder’s Statement was lodged with ASIC on 16 April 2024. Neither ASIC nor its officers take any responsibility for the content of this Bidder’s Statement. Investment decisions In preparing this Bidder’s Statement, River Capital has not taken into account the individual objectives, financial situation or needs of individual LPE Shareholders. Accordingly, before deciding whether or not to accept the Offer, you may wish to consult with your legal, financial, tax or other professional adviser. Disclaimer as to forward looking statements Some of the statements appearing in this Bidder’s Statement may be in the nature of forwardlooking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industry in which River Capital and LPE operate as well as general economic conditions, prevailing exchange rates, interest rates and conditions in the financial markets. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement. Neither River Capital or its Related Bodies Corporate, any of the officers or employees of any of them, nor any persons named in this Bidder’s Statement with their consent nor any person involved in the preparation of this Bidder’s Statement makes any representation or warranty (express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any events or results expressed or implied in any forward-looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this Bidder’s Statement reflect views held only as at the date of this Bidder’s Statement. Disclaimer as to information on LPE and the LPE Group The information on LPE, LPE’s securities and LPE Group contained in this Bidder’s Statement has been prepared by River Capital using publicly available information. The information in this Bidder’s Statement concerning LPE and the assets and liabilities, financial position and performance, profits and losses and prospects of LPE, has not been independently verified by River Capital. Accordingly, subject to the Corporations Act, River Capital does not make any representation or warranty (express or implied) as to the accuracy or completeness of any such information. Further information relating to LPE’s business may be included in the Target’s Statement which LPE must provide to LPE Shareholders in response to this Bidder’s Statement. Offers outside Australia — notice to overseas LPE Shareholders This Bidder’s Statement and the Offer has been prepared having regard to Australian disclosure requirements which may be different from those applicable in other jurisdictions. This Bidder’s Statement and the Offer do not constitute an offer (whether to buy or sell securities) in any place in which, or to any person to whom, it would not be lawful to make such an offer. The distribution of this Bidder’s Statement may, in some countries outside Australia, be restricted by law or regulation and persons who come into possession of this Bidder’s Statement should seek advice on and observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws. River Capital is registered with the Internal Revenue Service in the United States to satisfy the requirements of the Foreign Account Tax Compliance Act regulation. No other action has been taken to register or qualify River Capital outside Australia. If you are not an Australian resident taxpayer or are liable for tax outside Australia, you should seek specific tax advice in relation to the Australian and overseas tax consequences of accepting the Offer. Privacy River Capital has obtained your information from the LPE Register for the purpose of making this Offer and, if accepted, administering acceptances of the Offer in respect of Your LPE Shares. The Corporations Act requires the name and address of shareholders to be held in a public register. Your information may be disclosed on a confidential basis to Related Bodies Corporate and external service providers of River Capital, and may be required to be disclosed to regulators such as ASIC. The registered address of River Capital is Level 18, 644 Chapel Street, South Yarra VIC 3141. Websites LPE maintains a website at https://www.localityenergy.com.au/. Information contained in or otherwise accessible through this website is not part of this Bidder's Statement. All references to this website in this Bidder's Statement are for information purposes only. Effect of rounding Figures, amounts, percentages, prices, estimates, calculations of value and fractions in this Bidder's Statement may be subject to the effect of rounding. Accordingly, the actual figures may vary from those included in this Bidder's Statement. Currencies In this Bidder's Statement, references to "Australian dollars", "AUD", "$", "A$" or "cents" are to the lawful currency of Australia. This Bidder's Statement may contain conversions of relevant currencies to other currencies for convenience. These conversions should not be construed as representations that the relevant currency could be converted into the other currency at the rate used or at any other rate. Conversions that have been calculated at the date of this Bidder's Statement (or any other relevant date) may not correspond to the amounts shown in the historic or future financial statements of River Capital or LPE in respect of which different exchange rates may have been, or may be, used. Maps and diagrams Any diagrams and maps appearing in this Bidder’s Statement are illustrative only and may not be drawn to scale. Unless stated otherwise, all data contained in charts, maps, graphs and tables is based on information available at the date of this Bidder’s Statement. Time All references to time in this Bidder’s Statement are to Australian Eastern Standard Time (AEST). Defined terms Capitalised terms and certain abbreviations used in this Bidder’s Statement have the defined meanings in section 14. Section 14 also contains rules of interpretation that apply to this Bidder’s Statement. Enquiries and Offer Information Line If you have any questions in relation to the Offer, please call the Offer Information Line on the following numbers. Within Australia: 1300 103 390 (toll free) Outside Australia: +61 2 8072 1415 1 How to accept the Offer If you accept the Offer, you may do so in respect of all of Your LPE Shares. Acceptances must be received before the end of the Offer Period. Depending on the nature of your holding, you may accept the Offer in the following ways: Issuer sponsored shareholders (your SRN starts with an “I”) If Your LPE Shares are held on LPE’s issuer sponsored subregister:  to accept the Offer online, you must log into https://investor.automic.com.au/#/home using your SRN, follow the instructions, select the ‘Accept’ option and submit your acceptance before the end of the Offer Period; or  complete and sign the Acceptance Form enclosed with this Bidder’s Statement in accordance with the instructions on the form and ensure that the Acceptance Form (including any documents required by the terms of the Offer and instructions on the Acceptance Form) is sent so that it is received before the end of the Offer Period at the address shown on the Acceptance Form. CHESS shareholders (your HIN starts with an “X”) If Your LPE Shares are in a CHESS Holding,  contact your broker and instruct your Controlling Participant (for LPE Shareholders who are not institutions this is normally the stockbroker either through whom you bought Your LPE Shares or through whom you ordinarily acquire shares on the ASX) to accept the Offer on your behalf, before the Offer closes; or  to accept the Offer online, you must log into https://investor.automic.com.au/#/home using your HIN, follow the instructions, select the ‘Accept’ option and submit your acceptance before the end of the Offer Period. For your online acceptance to be an effective acceptance of the Offer, it must be received in time for Automic to give instructions to your Controlling Participant to respond to and accept those instructions before the Offer closes; or  complete and sign the Acceptance Form enclosed with this Bidder’s Statement in accordance with the instructions on the form and send it with all other documents required by those instructions on it to the address shown on the Acceptance Form, in each case sent and received in sufficient time for Automic to give instructions to your Controlling Participant and for your Controlling Participant to carry out those instructions before the end of the Offer Period. Participants If you are a Participant, acceptance of this Offer must be initiated in accordance with Rule 14.14 of the ASX Settlement Operating Rules before the Offer closes. Postal and hand delivery addresses for completed Acceptance Forms By post: By hand: Automic Group Automic Group GPO Box 5193 Level 5 Sydney NSW 2001 126 Phillip Street Sydney NSW 2000 Further information on how to accept the Offer Full details on how to accept the Offer are set out in section 13.3 of this Bidder’s Statement. If you have any further questions on how to accept the Offer, please call the Offer Information Line on 1300 103 390 (within Australia) or +61 2 8072 1415 (outside Australia) between 8.30am and 5.30pm (AEST) on Business Days. Please note that calls to the above numbers will be recorded. 2 Key dates Announcement Date 16 April 2024 Date of this Bidder’s Statement 16 April 2024 Date of Offer [●] 2024 Offer closes (unless extended or withdrawn) 5.00pm (AEST) [●] 2024 *The closing date for the Offer may change as permitted by the Corporations Act. 3 Letter to LPE Shareholders 16 April 2024 Dear LPE Shareholder $0.08 all-cash Offer for Your LPE Shares On behalf of River Capital, we are pleased to present to you this all-cash offer (the Offer) to acquire all of Your LPE Shares for $0.08 cash per share (Offer Price) from River Capital. As at the date of this letter, River Capital Group has a 19.75% interest in LPE. The Offer Price is at a significant premium to prior trading values of Your LPE Shares. On 28 March 2024, River Capital Group acquired an interest in 32,641,858 LPE Shares at a price of $0.08 per LPE Share. The Offer Price represents a premium of:  135% to the closing price of LPE’s Shares of $0.034 as at 27 March 2024 (being the last trading day before River Capital Group first acquired LPE Shares);  126% to LPE’s 30 day Volume Weighted Average Price (VWAP) of $0.035 as at 27 March 2024 (being the last trading day before River Capital Group first acquired LPE Shares); 1  105% to LPE’s 60 day VWAP of $0.039 as at 27 March 2024 (being the last trading day before River Capital Group first acquired LPE Shares); 2 and  48% to the closing price of LPE’s Shares of $0.054 as at 15 April 2024. Importantly, River Capital's Offer provides you with immediate and certain value and liquidity and a means of limiting your exposure to the risks associated with your continued shareholding in LPE. In particular, if you remain a shareholder in LPE, the future value of LPE Shares will be exposed to a number of risks including:  economic conditions, including as a result of monetary and fiscal policy measures and local and global political events;  movements in the stock market which can lead to uncertainty as to the future market price of LPE Shares; and  market and liquidity risks associated with maintaining a shareholding in LPE. The payment of the Offer Price is subject to a number of conditions (as set out in section 13.7) including a 90% minimum acceptance condition and no ‘Prescribed Occurrences’ or ‘Regulated Events’ occurring in relation to LPE. The Offer is fully funded. River Capital has access to available cash reserves to fund the acquisition of all of the LPE Shares that River Capital does not already own. Details of the Offer, including its terms, are set out in this Bidder’s Statement. We encourage you to read this Bidder’s Statement in its entirety, and then to accept the Offer as soon as possible. The Offer is open for your acceptance until 5.00pm (AEST) on [●] 2024 (unless it is extended or withdrawn). 1 2 Premium percentage was calculated by River Capital using non-rounded VWAP. As above. To accept the Offer, please follow the instructions on the accompanying Acceptance Form and as set out in this Bidder’s Statement (see section 1 of this Bidder’s Statement). If you have any questions about the Offer, please call the Offer Information Line on 1300 103 390 (within Australia) or +61 2 8072 1415 (outside Australia). This Offer will provide an opportunity for LPE Shareholders to sell their LPE Shares at an attractive price that is significantly above the current trading prices which will provide LPE Shareholders with certainty of value. We appreciate your consideration of this Offer. Yours sincerely, James Craig Director Barry Carp Director 4 Why you should accept the Offer The Offer Price represents a significant premium to recent trading levels Section 4.1 The Offer provides you with certainty of value and liquidity compared to the risks associated with an investment in LPE Section 4.2 River Capital Group is already a major shareholder of LPE with a 19.75% interest as at the date of the Bidder’s Statement. LPE shareholders should have regard to River Capital’s intentions in section 10 which may not align with individual Shareholders’ investment profile Section 4.3 LPE’s share price may fall if the Offer is not successful Section 4.4 As at the date of this Bidder’s Statement, there is no other takeover proposal for your LPE Shares Section 4.5 You will not incur any brokerage charges in connection with accepting the Offer if Your Accepted LPE Shares are registered in your name in an Issuer Sponsored Holding. Section 4.6 4.1 The Offer Price represents a significant premium to recent trading levels The Offer Price of $0.08 cash per LPE Share represents a significant premium to LPE’s recent trading levels prior to the Announcement Date. The Offer Price is at a significant premium to prior trading values of Your LPE Shares. On 28 March 2024, River Capital Group disclosed it had acquired an interest in 32,641,858 LPE Shares at a price of $0.08 per LPE Share. The Offer Price represents a premium of:  135% to the closing price of LPE’s Shares of $0.034 as at 27 March 2024 (being the last trading day before River Capital Group first acquired LPE Shares);  126% to LPE’s 30 day VWAP of $0.035 as at 27 March 2024 (being the last trading day before River Capital Group first acquired LPE Shares); 3  105% to LPE’s 60 day VWAP of $0.039 as at 27 March 2024 (being the last trading day before River Capital Group first acquired LPE Shares); 4 and  48% to the closing price of LPE’s Shares of $0.054 as at 15 April 2024. Bid Premiums Offer Price: $0.08 Per Share 105% Premium 126% Premium 135% Premium 48% Premium $0.054 $0.039 60-Day VWAP as at 27 March 2024 $0.035 $0.034 30-Day VWAP as at 27 March 2024 Closing price as at 27 March 2024 Closing price as at 15 April 2024 Figure 1: Offer premium relative to recent trading prices 4.2 The Offer provides you with certainty of value and liquidity compared to the risks associated with an investment in LPE The Offer provides you with the certainty of an all-cash offer. In comparison, if you remain a shareholder in LPE, the future value of LPE Shares will be exposed to a number of risks including: 3 4 Premium percentage was calculated by River Capital using non-rounded VWAP. As above.  economic conditions, including as a result of monetary and fiscal policy measures and local and global political events;  the volatility in the stock market which can lead to uncertainty as to the future market price of LPE Shares; and  market and liquidity risks associated with maintaining a shareholding in LPE. As a result, LPE Shareholders may find it difficult to realise an equivalent cash return for their LPE Shares in the absence of accepting the Offer. 4.3 River Capital Group is already a major shareholder of LPE with a 19.75% interest as at the date of this Bidder’s Statement. LPE shareholders should have regard to River Capital’s intentions in section 10 which may not align with individual Shareholders’ investment profile An increase in River Capital Group’s (and its Associates’) Voting Power in LPE as a result of the Offer may give River Capital Group and its Associates effective control of LPE including through the ability to potentially pass ordinary resolutions (and potentially special resolutions depending on LPE Shareholder turnout at general meetings) without the need for additional LPE Shareholder support. In these circumstances, River Capital may be able to carry out many of the intentions described in section 10 of this Bidder’s Statement. LPE shareholders should consider River Capital’s intentions relating to the Offer. These may not align with the intentions and investment profile of current LPE shareholders. Furthermore, if River Capital is successful in applying to ASX to delist LPE (if it decided to do so), this may have a material effect on the value and liquidity of LPE Shares. 4.4 LPE’s share price may fall if the Offer is not successful The Offer is at a significant premium to the recent trading prices of LPE Shares prior to the announcement of the Offer. Stock market prices are subject to change depending on a number of factors. If the Offer does not proceed and no alternative transaction is proposed, LPE’s share price may trade at a substantial discount to the Offer Price. If River Capital does not acquire 100% of LPE, then, depending on the circumstances at the relevant time, LPE Shares may continue to be subject to limited liquidity which would make it more difficult to readily dispose of LPE Shares in the future. The following figure shows LPE’s share price on ASX over the 12 month period leading up to the date of this Bidder’s Statement. $0.09 $0.08 Offer Price: $0.08 Per Share $0.07 $0.06 $0.05 $0.04 $0.03 $0.02 $0.01 $0.00 River Capital initial share purchase Figure 2: LPE historical share price performance 4.5 As at the date of this Bidder’s Statement, there is no other takeover proposal for Your LPE Shares As at the date of this Bidder’s Statement, no other party has announced an offer to acquire all of LPE’s Shares or any alternative control transaction. River Capital Group’s 19.75% interest as at the date of this Bidder’s Statement may make it less likely for any competing takeover proposal to emerge. 4.6 No brokerage in accepting the Offer if Your Accepted LPE Shares are registered in your name in an Issuer Sponsored Holding If LPE Shares are registered in an Issuer Sponsored Holding, you will not incur any brokerage fees in accepting the Offer. If LPE Shares are registered in a CHESS Holding, you will generally not incur any brokerage fees in accepting the Offer (although you should ask your Controlling Participant, normally your broker, to confirm). If you sell LPE Shares on the ASX instead of accepting the Offer, you may incur brokerage fees (and potentially GST on those fees). 5 Summary of the Offer Set out below is a summary of the Offer. It is qualified by the detailed information set out elsewhere in this Bidder’s Statement. You should read the entire Bidder’s Statement before deciding whether to accept the Offer. What is the Offer? River Capital is offering to buy all of Your LPE Shares by way of an off-market takeover bid on the terms set out in this Bidder’s Statement. The Offer consideration is $0.08 in cash for each of Your LPE Shares. You may only accept this Offer in respect of all of Your LPE Shares. This Offer also extends to LPE Shares that are issued on exercise or vesting of Options and Performance Rights prior to the end of the Offer Period. This means that holders of Options or Performance Rights that vest or are exercised will be able to accept the Offer in respect of the LPE Shares issued during the Offer Period as a result of that vesting or exercise. See section 8.2 of this Bidder’s Statement for further details on the treatment of Options and Performance Rights. Persons to whom the Offer is made The Offer is open to all holders of LPE Shares which River Capital Group does not own or control. What is the Bidder’s Statement? This Bidder’s Statement was prepared by River Capital for distribution to LPE Shareholders. The Bidder’s Statement describes the terms of River Capital’s Offer for Your LPE Shares and information relevant to your decision whether or not to accept the Offer. This Bidder’s Statement is an important document. Should you have any doubt as to how to deal with this document, you should consult your financial, legal or other professional adviser. Who is River Capital? The bidder under the Offer is River Capital which is a Melbourne based investment firm. River Capital is controlled by RC Strategic Investments Pty Ltd (ACN 652 230 218), an entity controlled by entities associated with Mr Barry Carp, Ms Suzi Carp and Mr James Craig. For information on River Capital, please see section 6. If I accept the Offer, when will I be paid? If you accept the Offer in accordance with the instructions contained in the Offer and the Acceptance Form and the Offer is, or becomes, unconditional, you will be paid on the earlier of:  one month after you accept the Offer, or one month after the conditions have been satisfied or waived (whichever is the later); and  21 days after the end of the Offer Period. Full details of when Offer consideration will be provided are set out in section 13.6 of this Bidder’s Statement. Can I accept the Offer in respect of some, but not all, of my LPE Shares? No, you cannot accept the Offer for some of Your LPE Shares. You may only accept the Offer in respect of all of Your LPE Shares. Will I pay stamp duty or brokerage if I accept the Offer? If Your LPE Shares are registered to an Issuer Sponsored Holding in your name and you deliver them directly to River Capital, you will not incur any brokerage fees or be obliged to pay stamp duty in connection with your acceptance of the Offer. If Your LPE Shares are registered in a CHESS Holding, or if you are a beneficial owner whose LPE Shares are registered in the name of a broker, bank, custodian, or other nominee, you will not be obliged to pay stamp duty by accepting the Offer, but you should ask your Controlling Participant (usually your broker) or that nominee whether it will charge any transactional fees or service charges in connection with acceptance of the Offer. What are the conditions of the Offer? The Offer is subject to the following conditions:  River Capital obtaining a relevant interest in 90% of LPE Shares;  no Prescribed Occurrences occurring in relation to LPE; and  no Regulated Event occurring in relation to LPE. Full terms of the conditions are set out in section 13.7 of the Bidder’s Statement. Why should I accept the Offer? There are a number of reasons why you should accept the Offer:  the Offer Price represents a significant premium to recent trading levels;  the Offer provides certainty of value and liquidity;  River Capital Group is already a major shareholder of LPE with a 19.75% interest as at the date of the Bidder’s Statement and River Capital’s intentions may not align with individual LPE Shareholders’ investment profile;  LPE’s share price may fall if the Offer is not successful;  as at the date of this Bidder’s Statement, there is no other takeover proposal for Your LPE Shares; and  you will not incur any brokerage charges in connection with accepting the Offer if Your Accepted LPE Shares are registered in your name in an Issuer Sponsored Holding. For more information, please see section 4 of this Bidder’s Statement. How do I accept the Offer? Depending on the nature of your holding, you may accept the Offer in the following ways: Issuer sponsored shareholders (your SRN starts with an “I”) If Your LPE Shares are held on LPE’s issuer sponsored subregister:  to accept the Offer online, you must log into https://investor.automic.com.au/#/home using your SRN, follow the instructions, select the ‘Accept’ option and submit your acceptance before the end of the Offer Period; or  complete and sign the Acceptance Form enclosed with this Bidder’s Statement in accordance with the instructions on the form (including any documents required by the terms of the Offer and instructions on the Acceptance Form) and ensure it is sent so that it is received before the end of the Offer Period at the address shown on the Acceptance Form. CHESS shareholders (your HIN starts with an “X”) If Your LPE Shares are in a CHESS Holding:  contact your broker and instruct your Controlling Participant (for LPE Shareholders who are not institutions this is normally the stockbroker either through whom you bought Your LPE Shares or through whom you ordinarily acquire shares on the ASX) to accept the Offer on your behalf, before the Offer closes; or  to accept the Offer online you must log into https://investor.automic.com.au/#/home using your HIN, follow the instructions, select the ‘Accept’ option and submit your acceptance before the end of the Offer Period. For your online acceptance to be an effective acceptance of the Offer, it must be received in time for Automic to give instructions to your Controlling Participant to respond to and accept those instructions before the Offer closes; or  complete and sign the Acceptance Form enclosed with this Bidder’s Statement in accordance with the instructions on the form and send it with all other documents required by those instructions on it to the address shown on the Acceptance Form, in each case sent and received in sufficient time

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