News: EPW ERM Power Says Shell Energy Australia Proposes To Buy It

Aug 22 (Reuters) - Erm Power Ltd (EPW) :

• SHELL ENERGY AUSTRALIA PROPOSAL TO ACQUIRE ERM POWER
• PROPOSED OFFER PRICE OF $2.465 CASH PER SHARE
• ENTERED SCHEME IMPLEMENTATION DEED WITH SHELL ENERGY AUSTRALIA PTY LTD TO ACQUIRE 100% OF SHARE CAPITAL OF ERM POWER
• DECLARED A FULLY FRANKED ORDINARY DIVIDEND OF $0.045 PER SHARE
• BOARD CURRENTLY INTENDS TO DECLARE AND PAY A SPECIAL DIVIDEND OF UP TO $0.085 PER SHARE PRIOR TO IMPLEMENTATION OF SCHEME
• ERM POWER SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION AT THIS POINT IN TIME.
• SHELL ENERGY AUSTRALIA PROPOSAL TO ACQUIRE ERM POWER