Brief: Thorn Group Receives Binding Offer From Somers Limited

Thorn

25/08/2023 02:31

Aug 25 (Reuters) - Thorn Group Ltd  TGA.AX :
    * RECEIPT OF BINDING OFFER FROM SOMERS LIMITED-
    * RECEIVED A BINDING AND CONDITIONAL PROPOSAL FROM SOMERS
LIMITED
TO ACQUIRE 100% OF SHARES IN THORN
    * BINDING AND CONDITIONAL PROPOSAL FOR CASH CONSIDERATION OF
A$1.62 PER SHARE
    * PROPOSAL ALSO PERMITS, AT THORN'S DISCRETION, TO UNDERTAKE
A$10
MILLION OR HIGHER CAPITAL REDUCTION PAYABLE TO THORN
SHAREHOLDERS
    * IC NOTES THAT THERE IS NO CERTAINTY THAT ENGAGEMENT
BETWEEN
THORN AND SOMERS WILL RESULT IN A CHANGE OF CONTROL TRANSACTION
    * THORN CONTINUES TO RECOMMEND THAT THORN SHAREHOLDERS VOTE
IN
FAVOUR OF ALL RESOLUTIONS AT UPCOMING AGM

Source text for Eikon:  ID:nASX2yHDQh 
Further company coverage:  TGA.AX 

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