March 21 (Reuters) - Navitas Ltd (NVT) : NAVITAS ENTERS INTO...

March 21 (Reuters) - Navitas Ltd (NVT) :

• NAVITAS ENTERS INTO SCHEME IMPLEMENTATION DEED WITH BGH
• SHAREHOLDERS TO RECEIVE CASH CONSIDERATION OF $5.825 PER NAVITAS SHARE UPON SCHEME BEING IMPLEMENTED
• NAVITAS DIRECTORS UNANIMOUSLY RECOMMEND NAVITAS SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
• NAVITAS HAS AGREED TERMS OF A BINDING OFFER FROM BGH CONSORTIUM
• SCHEME BOOKLET EXPECTED TO BE DISTRIBUTED TO NAVITAS SHAREHOLDERS IN MAY, AND SCHEME MEETINGS EXPECTED TO BE HELD IN JUNE
• CASH CONSIDERATION VALUES NAVITAS' EQUITY AT ABOUT $2.1 BILLION
• UNDER SID, IT IS PROPOSED THAT BGH BIDCO WILL ACQUIRE 100% OF SHARE CAPITAL OF NAVITAS BY WAY OF A SCHEME OF ARRANGEMENT
• SID DETAILS CIRCUMSTANCES UNDER WHICH BREAK FEE OF $15.65 MILLION MAY BE PAYABLE BY NAVITAS TO BGH BIDCO

Source text (http//reut.rs/2TVOXgk)

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