Aug 9 (Reuters) - InvoCare Ltd (IVC) : INVOCARE ENTERS INTO...

Aug 9 (Reuters) - InvoCare Ltd (IVC) :

• INVOCARE ENTERS INTO SCHEME IMPLEMENTATION DEED WITH TPG
• INVOCARE SHAREHOLDERS TO RECEIVE A$12.70 PER SHARE IN CASH
• CASH CONSIDERATION REPRESENTS A 42% PREMIUM TO INVOCARE'S CLOSING SHARE PRICE ON 6 MARCH 2023
• INVOCARE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
• CASH CONSIDERATION REPRESENTS AN IMPLIED EQUITY VALUE OF A$1.8 BILLION
• CASH CONSIDERATION REPRESENTS ENTERPRISE VALUE OF A$2.2 BILLION
• TPG ADVISED INVOCARE THAT IT EXPECTS TO FUND CASH CONSIDERATION THROUGH EQUITY COMMITTED BY CERTAIN FUNDS MANAGED OR ADVISED BY TPG
• NEAR-TERM MACRO-ENVIRONMENT REMAINS CHALLENGING AND MARKET VOLUMES HAVE SOFTENED IN Q2 FY23
• HAS CONTINUED TO SEE LESS WEEK-TO-WEEK VOLATILITY IN DEMAND FOR ITS SERVICES DURING 1H FY23
• INVOCARE LTD SEES OPERATING EBITDA TO BE A$61 MILLION-A$63 MILLION FOR HY
• SHAREHOLDERS TO RECEIVE A$12.70 PER SHARE IN CASH, INCLUSIVE OF A FULLY FRANKED SPECIAL DIVIDEND OF UP TO A$0.60 PER INVOCARE SHARE