News: LNK Link Administration Enters Scheme Implementation Deed With Mitsubishi UFJ Trust And...

Dec 18 (Reuters) - Link Administration Holdings Ltd (LNK) :

• LINK GROUP ENTERS INTO SCHEME IMPLEMENTATION DEED
• HAS ENTERED INTO A SCHEME IMPLEMENTATION DEED WITH MITSUBISHI UFJ TRUST & BANKING CORPORATION
• UNDER DEAL TRUST BANK HAS AGREED TO ACQUIRE 100% OF SHARES IN LINK GROUP BY WAY OF A SCHEME OF ARRANGEMENT
• IF SCHEME IS APPROVED, LINK GROUP SHAREHOLDERS WILL RECEIVE A$2.10 CASH PER LINK GROUP SHARE UNDER SCHEME
• IN TOTAL, LINK GROUP SHAREHOLDERS ARE EXPECTED TO RECEIVE A$2.26 PER LINK GROUP SHARE IN CASH IF SCHEME IS APPROVED
• IF SCHEME IS APPROVED A DIVIDEND OF A$0.16 CASH PER LINK GROUP SHARE EXPECTED TO BE PAID BY LINK GROUP
• BOARD UNANIMOUSLY RECOMMENDS THAT LINK GROUP SHAREHOLDERS VOTE IN FAVOUR OF SCHEME IN ABSENCE OF A SUPERIOR PROPOSAL
• VALUES LINK GROUP EQUITY AT A$1.2 BILLION AND IMPLIES AN ENTERPRISE VALUE OF A$2.1 BILLION
• LINK GROUP SHAREHOLDERS WILL BE GIVEN OPPORTUNITY TO VOTE ON SCHEME AT SCHEME MEETING, CURRENTLY EXPECTED TO BE HELD IN MAY 2024
• SCHEME IS EXPECTED TO BE IMPLEMENTED IN JUNE 2024