News: ENA PSC Insurance Group Says Psc Insurance Group To Acquire Ensurance

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

• PSC INSURANCE GROUP TO ACQUIRE ENSURANCE LTD
• PSC TO ACQUIRE ALL OF SHARES IN CAPITAL OF ENA BY WAY OF SCHEME OF ARRANGEMENT
• PURCHASE PRICE TO BE GREATER OF A$25.2 MILLION AND 5 MLN FULLY PAID ORDINARY SHARES IN PSC
• EXPECT ANNUALISED EBITDA IN EXCESS OF A$1.5 MILLION IN FIRST YEAR FOLLOWING COMPLETION OF ACQUISITION
• ENA BOARD HAS UNANIMOUSLY RECOMMENDED THAT ENA SHAREHOLDERS APPROVE SCHEME, IN ABSENCE OF A SUPERIOR PROPOSAL