Humanforce boosts voting power in LiveHire to 59.01%

Humanforce announced a significant increase in its voting power in LiveHire (ASX:LVH) as part of its ongoing takeover bid.

Humanforce's voting power now stands at 59.01%, making it the largest shareholder in LiveHire.

As a result of this increase, the offer period has been automatically extended until the close of trading on Oct. 11, in accordance with the Corporations Act.

Shareholders who accept the offer will receive payment on a T+2 basis, meaning payment will occur on the second trading day after acceptance.

Humanforce has reiterated the recommendation by LiveHire's directors for shareholders to accept the offer.

"LiveHire directors continue to unanimously recommend that LiveHire shareholders ACCEPT the Humanforce offer in the absence of a superior proposal," stated David Pullini, Chairman, Humanforce.

LiveHire's directors have already sold their shares to Humanforce and intend to accept the offer for any additional shares they acquire through vested performance rights during the bid period.

The sixth supplementary target's statement from LiveHire notes that no competing offers have emerged since the bid was announced on Aug. 14, and a superior proposal is considered unlikely.

LiveHire is a recruitment, talent mobility and direct sourcing platform engaged in the provision of online talent acquisition software. Its solutions include branded talent attraction, recruitment customer relationship management, applicant tracking system, recruitment analytics, market integration, and professional services.

At the time of reporting, LiveHire's share price was $0.045.