Nov 13 (Reuters) - Consolidated Operations Group (COG) : CO AND...

Nov 13 (Reuters) - Consolidated Operations Group (COG) :

• CO AND CML GROUP ENTERED SCHEME IMPLEMENTATION AGREEMENT FOR A PROPOSED MERGER
• PROPOSED MERGER TO ESTABLISH FINANCIAL SERVICES GROUP FOCUSING ON SERVICING SME BUSINESSES IN AUSTRALIA
• ANNOUNCES LAUNCH OF EQUITY RAISING OF A$20.2M
• CML GROUP TO CONDUCT EQUITY RAISING OF A$14.5M
• CML WILL PAY A DIVIDEND OF A$0.03 PER CML SHARE IMMEDIATELY PRIOR TO SCHEME IMPLEMENTATION DATE
• COG WILL ACQUIRE ALL OF ISSUED SHARE CAPITAL OF CML
• DEAL FOR A SCRIP CONSIDERATION OF 5.4 COG SHARES FOR EVERY 1 CML SHARE HELD
• DEAL VALUES EQUITY OF CML AT APPROXIMATELY A$111.4 MILLION
• CML WILL PAY A DIVIDEND OF A$0.03 PER CML SHARE IMMEDIATELY PRIOR TO SCHEME IMPLEMENTATION DATE
• CML BOARD HAS UNANIMOUSLY RECOMMENDED THAT, IN ABSENCE OF A SUPERIOR PROPOSAL CML SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
• PROPOSED MERGER EXPECTED TO BE IMMEDIATELY EPS ACCRETIVE