Brief: Perpetual Says Confirms Indicative Proposal By WHSP Was Rejected

Washington H. Soul Pattinson and

06/12/2023 08:46

Dec 6 (Reuters) - Perpetual Ltd  PPT.AX :
    * ASX ALERT-REJECTION OF WHSP INDICATIVE PROPOSAL,SOL-PPT.AX
    * PERPETUAL LTD - REJECTION OF WHSP INDICATIVE
PROPOSAL,SOL-PPT.AX
    * PERPETUAL CONFIRMS THAT CONFIDENTIAL DISCUSSIONS TOOK
PLACE AND
THAT INDICATIVE PROPOSAL WAS REJECTED
    * CONFIRMS RECEIVED AND REJECTED CONFIDENTIAL, CONDITIONAL,
NON-BINDING INDICATIVE PROPOSAL FROM WASHINGTON H. SOUL
PATTINSON
    * SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN RESPONSE TO
INDICATIVE PROPOSAL
    * CAREFULLY CONSIDERED INDICATIVE PROPOSAL & UNANIMOUSLY
DETERMINED THAT IT IS NOT IN BEST INTERESTS OF ITS SHAREHOLDERS
    * REJECTED PROPOSAL AS IT MATERIALLY UNDERVALUES PERPETUAL
    * PROPOSAL WAS REJECTED AS IT WAS CONDITIONAL ON DEMERGER OF
ASSET
MANAGEMENT, WHICH WOULD BE DISTRIBUTED IN-SPECIE
    * BOARD REMAINS FOCUSED ON EXPLORING OPTIONS TO MAXIMISE
SHAREHOLDER VALUE

Source text for Eikon:  ID:nASX4n7gBw 
Further company coverage:  PPT.AX 

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