Brief: Pacific Current Group Says Got Unsolicited, Non-Binding, Indicative Proposal From Regal Partners

Pacific Current

26/07/2023 11:37

July 26 (Reuters) - Pacific Current Group Ltd  PAC.AX :
    * RECEIVED AN UNSOLICITED, NON-BINDING, INDICATIVE PROPOSAL
FROM
REGAL PARTNERS LIMITED
    * PROPOSAL TO ACQUIRE 100% OF SHARES IN PAC BY WAY OF A
SCHEME OF
ARRANGEMENT
    * UNDER REGAL'S PROPOSAL, PACIFIC CURRENT SHAREHOLDERS WOULD
RECEIVE AN IMPLIED TOTAL VALUE OF A$11.12 PER SHARE
    * PROPOSAL STATES  PACIFIC CURRENT SHAREHOLDERS MAY ELECT TO
SUBSTITUTE EITHER OR BOTH ELEMENTS OF CONSIDERATION FOR REGAL
SHARES
    * SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN RELATION TO
PROPOSAL
    * ANTICIPATES FY23 BOUTIQUE CONTRIBUTIONS (EX MARK TO MARKET
ADJUSTMENTS) WILL BE BETWEEN A$50M AND A$51M
    * INDEPENDENT BOARD COMMITTEE WILL EVALUATE PROPOSAL AND
OTHER
ALTERNATIVES TO MAXIMISE VALUE FOR SHAREHOLDERS
    * UNDER PROPOSAL, CONSIDERATION COMPRISING A$7.50 IN CASH
PER PAC
SHARE PLUS 2.2 GQG SHARES PER PAC SHARE
    * EXPECTS TOTAL REVENUES BETWEEN A$51M AND A$52M FOR FY23

Source text for Eikon:  ID:nASX3c1jD3 
Further company coverage:  PAC.AX 

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