Aug 10 (Reuters) - iSelect Ltd (ISU) : ENTERS INTO SCHEME...

Aug 10 (Reuters) - iSelect Ltd (ISU) :

• ENTERS INTO SCHEME IMPLEMENTATION AGREEMENT WITH INNOVATION HOLDINGS AUSTRALIA
• ENTERS INTO SCHEME IMPLEMENTATION AGREEMENT WITH INNOVATION HOLDINGS AUSTRALIA
• UNDER SIA, PROPOSED THAT IHA WILL ACQUIRE ALL OF SHARES IN ISELECT THAT IT DOES NOT CURRENTLY OWN BY WAY OF A SCHEME OF ARRANGEMENT
• IF SCHEME IS IMPLEMENTED, ISELECT SHAREHOLDERS WILL RECEIVE CASH CONSIDERATION OF A$0.30 PER ISELECT SHARE
• UNANIMOUSLY RECOMMENDS THAT ISELECT SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
• IF SCHEME BECOMES EFFECTIVE, IT IS CURRENTLY EXPECTED THAT BRODIE ARNHOLD WILL REMAIN CHAIRMAN OF ISELECT