News: PSI Psc Insurance Group Enters Into Scheme Implementation Deed With Ardonagh

May 8 (Reuters) - PSC Insurance Group Ltd (PSI) :

• PSC INSURANCE ENTERS INTO SCHEME IMPLEMENTATION DEED WITH ARDONAGH
• WILL JOIN ARDONAGH GROUP PENDING SHAREHOLDER AND COURT APPROVAL OF A SCHEME OF ARRANGEMENT
• PSC SHAREHOLDERS WILL RECEIVE A$6.19 PER PSC SHARE
• PSC BOARD UNANIMOUSLY RECOMMEND SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
• ENTERED INTO A BINDING SCHEME IMPLEMENTATION DEED WITH ROSEDALE BIDCO PTY LTD
• SCHEME CASH CONSIDERATION REPRESENTS AN IMPLIED EQUITY VALUE OF A$2,256 MILLION
• SCHEME CASH CONSIDERATION REPRESENTS ENTERPRISE VALUE OF A$2,429 MILLION

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