July 15 (Reuters) - Seven Group: UPDATE ON BORAL TAKEOVER...

July 15 (Reuters) - Seven Group:

• UPDATE ON BORAL TAKEOVER OFFER,BLD-SVW.AX
• HAS NOW RECEIVED ACCEPTANCES UNDER OFFER SUCH THAT ITS AGGREGATE INTEREST IN BORAL SHARES IS UP TO 52.65%.
• CONSIDERS IT LIKELY THAT ITS VOTING POWER WILL EXCEED 50% BEFORE THE SCHEDULED CLOSE OF THE OFFER
• CONFIRMS IT WILL SUPPORT PROPOSAL THAT RETAINS MAJORITY OF INDEPENDENT DIRECTORS ON BORAL BOARD
• LOOKS FORWARD TO RE-ENGAGING WITH BORAL BOARD TO COLLECTIVELY DRIVE BORAL’S RENEWED STRATEGY AND MAXIMISE VALUE FOR ALL SHAREHOLDERS