Nov 1 (Reuters) - AusNet Services Ltd (AST) : AUSNET ENTERS...

Nov 1 (Reuters) - AusNet Services Ltd (AST) :

• AUSNET ENTERS INTO SCHEME DEED WITH BROOKFIELD
• SCHEME VALUES AUSNET AT AN EQUITY VALUE OF A$10.2 BILLION AND AN ENTERPRISE VALUE OF A$17.8 BILLION
• SINGAPORE POWER INFORMED AUSNET THAT IT SUPPORTS SCHEME AND INTENDS TO VOTE IN FAVOUR OF IT
• IF SCHEME IS IMPLEMENTED, AUSNET SHAREHOLDERS WILL RECEIVE TOTAL VALUE OF A$2.65 CASH PER SHARE
• UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
• SID CONTAINS CUSTOMARY TERM THAT AUSNET IS REQUIRED TO CEASE DISCUSSIONS WITH OTHER PARTIES
• IF SCHEME IS IMPLEMENTED AFTER 31 MARCH 2022, AUSNET SHAREHOLDERS WILL BE ENTITLED TO ADDITIONAL CONSIDERATION FROM BROOKFIELD
• APA FREE TO MAKE SUPERIOR PROPOSAL AND SID HAS CUSTOMARY FIDUCIARY OUT WHICH ALLOWS AUSNET BOARD TO CONSIDER THAT FURTHER PROPOSAL