News: VRL Village Roadshow Says BGH Capital To Increase Cash Consideration To $3.00 Per Share

Nov 23 (Reuters) - Village Roadshow Ltd (VRL) :

• VILLAGE ROADSHOW ANNOUNCES THAT IT HAS AGREED WITH BGH CAPITAL TO INCREASE CASH CONSIDERATION TO $3.00 PER VRL SHARE
• INDEPENDENT DIRECTORS CONTINUE TO UNANIMOUSLY RECOMMEND THAT VRL SHAREHOLDERS VOTE IN FAVOUR OF EACH ALTERNATIVE SCHEME
• CASH CONSIDERATION UNDER STRUCTURE A & STRUCTURE B SCHEME NOW ABOVE INDEPENDENT EXPERT'S VALUE RANGE OF $2.03 TO $2.80 PER VRL SHARE
• VRL OPERATING CASH FLOW POST CAPITAL EXPENDITURE EXPECTED TO REMAIN NEGATIVE THROUGH TO 30 JUNE 2021
• NET DEBT FOR VRL AT 30 JUNE 2021 IS EXPECTED TO BE ABOUT $370 MILLION TO $380 MILLION
• VRL EXPECTS TO SPEND A FURTHER $55 MILLION OF CAPITAL EXPENDITURE PRIOR TO 30 JUNE 2021