Brief: CSR Enters Into Scheme Implementation Deed With Saint-Gobain

CSR

26/02/2024 06:57

Feb 26 (Reuters) - CSR Ltd  CSR.AX :
    * ASX ALERT-CSR ENTERS INTO SCHEME IMPLEMENTATION DEED WITH
SAINT-GOBAIN-CSR.AX
    * SCHEME CONSIDERATION OF A$9.00 PER SHARE VALUES CSR'S
EQUITY AT
APPROXIMATELY A$4,323 MILLION 
    * CASH CONSIDERATION OF A$9.00 PER SHARE
    * ENTERED INTO A BINDING SCHEME IMPLEMENTATION DEED WITH
SAINT-GOBAIN
    * DEAL FOR A$9.00 PER SHARE
    * UNANIMOUSLY RECOMMENDS SHAREHOLDERS VOTE IN FAVOUR OF
SCHEME
    * FINAL PROPOSAL FOLLOWS AN INITIAL OFFER IN EARLY JANUARY
THIS
YEAR AND A PERIOD OF NEGOTIATION
    * IMPLEMENTATION OF SCHEME IS THEN EXPECTED TO OCCUR IN
FIRST HALF
OF CSR'S YEM2025 FINANCIAL YEAR
    * SCHEME PROVIDES ATTRACTIVE VALUE AND CERTAINTY FOR CSR
SHAREHOLDERS
    * DIVIDEND IS PERMITTED TO BE UP TO 25 AU CENTS PER SHARE
BUT IS
REQUIRED TO BE FULLY FRANKED
    * AGREED WITH SAINT-GOBAIN THAT A FULLY FRANKED DIVIDEND MAY
BE
PAID TO SHAREHOLDERS


Further company coverage:  CSR.AX 

 ((Reuters.Briefs@thomsonreuters.com;))