News: ATL Tourism Holdings Agrees Merger Terms With Apollo Tourism & Leisure

Dec 10 (Reuters) - Tourism Holdings Ltd (THL) :

• AGREES MERGER TERMS WITH APOLLO TOURISM & LEISURE
• MERGER WILL RESULT IN ATL SHAREHOLDERS OWNING APPROXIMATELY 25% AND THL SHAREHOLDERS OWNING 75% OF THL
• ANTICIPATED COST OUT SYNERGIES ARE EXPECTED TO DELIVER A STEADY-STATE EBIT BENEFIT OF NZ$17M TO NZ$19M PER ANNUM
• CONSIDERATION IS PAYABLE BY THL ISSUING 1 NEW FULLY PAID THL SHARE FOR EVERY ABOUT 3.68 SHARES HELD BY APOLLO SHAREHOLDERS
• THL WILL APPLY TO BE DUAL LISTED ON THE AUSTRALIAN SECURITIES EXCHANGE THROUGH A FOREIGN-EXEMPT LISTING
• WILL ISSUE 1 NEW ORDINARY THL SHARE FOR EVERY 3.68 ORDINARY ATL SHARES HELD
• POST-MERGER OWNERSHIP RATIO OF ABOUT 25% TO APOLLO SHAREHOLDERS AND ABOUT 75% TO THL SHAREHOLDERS
• TRANSACTION IS SUBJECT TO APPROVAL OF APOLLO SHAREHOLDERS, OTHER APPROVALS

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