News: PDL Perpetual Confirms Proposed Deferral Of First Court Hearing For Pendal Deal

Nov 10 (Reuters) - Perpetual Ltd (PPT) :

• CONFIRMS PROPOSED SHORT DEFERRAL OF FIRST COURT HEARING FOR SCHEME OF ARRANGEMENT PROCESS WITH PENDAL
• DEVELOPMENTS INCLUDE TWO INDICATIVE OFFERS FROM CONSORTIUM WHICH WERE REJECTED BY BOARD
• DEVELOPMENTS INCLUDE FURTHER ACTUAL AND SPECULATED INTEREST IN PERPETUAL BY OTHER PARTIES
• UNDER SOME CIRRCUMSTANCES, CO MAY HAVE OBLIGATION TO PAY TO PENDAL UP TO A$23 MILLION
• DOES NOT CONSIDER IT FEASIBLE TO SETTLE DISCLOSURE FOR SCHEME BOOKLET OF REQUIRED STANDARD REGARDING PERPETUAL SCRIP ON GIVEN TIMETABLE
• REQUESTED CHANGE TO FIRST COURT HEARING FOR SCHEME WOULD NOT IMPACT TARGET IMPLEMENTATION DATE
• SCHEME IMPLEMENTATION DEED PROVIDES FOR SITUATION WHERE CO DETERMINES THAT IT SHOULD NOT PROCEED WITH PENDAL DEAL
• SCHEME IMPLEMENTATION DEED PROVIDES FOR SITUATION WHERE CO DETERMINES IT SHOULD PURSUE TRANSACTION WHICH PREVENTED PENDAL DEAL