May 9 (Reuters) - AUB Group Ltd (AUB) :
- CO ENTERED INTO A BINDING AGREEMENT TO PURCHASE TYSERS
- PROPOSED DEAL FOR AUD880 MILLION
- SEES 30% UNDERLYING PRO FORMA EPS ACCRETION ON A PRO FORMA CY22 BASIS FROM DEAL
- DEAL WILL BE FUNDED FROM PROCEEDS OF AN AUD350 MILLION EQUITY RAISING, A PLACEMENT OF AUD176 MILLION OF AUB SHARES
- DEAL WILL ALSO BE FUNDED FROM NEW AUD675 MILLION MULTI-CURRENCY DEBT FACILITY
- SEPERATELY, CO & PSC INSURANCE ENTER NON-BINDING TERM SHEET UNDER WHICH PSC WILL ACQUIRE A 50% STAKE IN TYSERS' UK RETAIL DIVISION
- AFFIRMS FY22 GUIDANCE
- CONTINUES TO TARGET A DIVIDEND PAYOUT RATIO OF 50-70%
- EXPECTS TO PAY A 2H22 DIVIDEND ON EXISTING AND NEW SHARES
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