News: HOM Homeloans Ltd enters scheme implementation agreement with Resimac

July 20 (Reuters) - Homeloans Ltd (HOM) :

• Homeloans enters into sia with resimac (HOM)
• Homeloans has entered into a scheme implementation agreement with Resimac Limited
• Homeloans will merge with resimac through the issue of new Homeloans shares to resimac shareholders
• Transaction is expected to be transformational for Homeloans with a number of revenue and operational synergies identified
• Says Warren mcleland to be appointed as managing director of the merged group
• Board of Homeloans unanimously recommends that Homeloans shareholders vote in favour of all resolutions
• Board of Homeloans expects to declare a final dividend of two cents per share
• Under the transaction, resimac shareholders will receive all scrip consideration, through issue of 285.3 million new ordinary Homeloans shares
• Expected that upon completion of the transaction, existing Resimac shareholders will hold 72.5% of merged group