Brief: Silk Laser Australia Receives Non-Binding Proposal From Australian Pharmaceutical Industries

Solara Minerals

19/04/2023 10:35

April 19 (Reuters) - Silk Laser Australia Ltd  SLA.AX :
    * RECEIVED A NON-BINDING, INDICATIVE AND CONDITIONAL
PROPOSAL FROM
AUSTRALIAN PHARMACEUTICAL INDUSTRIES PTY LTD ON 19 APRIL
    * SCHEME FOR CASH CONSIDERATION OF A$3.15 PER SHARE
    * BOARD UNANIMOUSLY INTENDS TO RECOMMEND THAT SILK
SHAREHOLDERS
VOTE IN FAVOUR OF PROPOSED SCHEME OF ARRANGEMENT
    * EACH DIRECTOR INTENDS TO VOTE ANY SILK SHARES THEY CONTROL
IN
FAVOUR OF SCHEME
    * CO & API ENTERED INTO PROCESS DEED UNDER WHICH API HAS
BEEN
GRANTED 30 BUSINESS DAYS TO UNDERTAKE EXCLUSIVE DUE DILIGENCE
    * API HAS ENTERED INTO VOTING DEED WITH WILSON ASSET
MANAGEMENT
GROUP IN RELATION TO ITS 9.3% SHAREHOLDING IN SILK

Source text for Eikon:  ID:nASXc80WNL 
Further company coverage:  SLA.AX 

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