Brief: Capral Receives Confidential Non- Binding Indicative Proposal From Allegro Funds Pty

Capral

14/04/2021 02:37

April 14 (Reuters) - Capral Ltd  CAA.AX :
    * RECEIVED A CONFIDENTIAL NON- BINDING INDICATIVE PROPOSAL
FROM
ALLEGRO FUNDS PTY
    * ALLEGRO FUNDS TO ACQUIRE 100% OF SHARES IN CAPRAL FOR
$7.00 CASH
PER SHARE
    * BOARD CONSIDERS THAT PROPOSAL HAS POTENTIAL TO PROVIDE
SHAREHOLDERS WITH A LIQUIDITY EVENT
    * IN ORDER TO FACILITATE DUE DILIGENCE PROCESS, CAPRAL AND
ALLEGRO
HAVE ENTERED INTO A PROCESS DEED
    * CONCLUDED IT IS IN BEST INTERESTS OF CO'S SHAREHOLDERS TO
ALLOW
ALLEGRO TO PROCEED WITH ITS DUE DILIGENCE INVESTIGATIONS
    * CONCLUDED IT IS IN BEST INTERESTS OF CO'S SHAREHOLDERS TO
ENGAGE
FURTHER WITH ALLEGRO TO PROGRESS PROPOSAL
    * BOARD'S INTENTION TO RECOMMEND THAT SHAREHOLDERS VOTE IN
FAVOUR
OF PROPOSED TRANSACTION IN ABSENCE OF A SUPERIOR PROPOSAL
    * BOARD NOTES THAT THERE IS NO CERTAINTY THAT A BINDING
OFFER WILL
BE FORTHCOMING OR THAT PROPOSAL WILL RESULT IN A TRANSACTION
OCCURRING

Source text for Eikon:  ID:nASX7g8Pc9 
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