News: OPC Uniti Group Says Opticomm Accepts Uniti revised & superior offer

Sept 15 (Reuters) - Uniti Group Ltd (UWL) :

• ENTERED INTO AMENDED AND RESTATED SCHEME IMPLEMENTATION DEED WITH OPTICOMM LTD
• UNITI IS OFFERING OPTICOMM SHAREHOLDERS UNCONDITIONAL, REVISED CONSIDERATION OF $4.835 CASH AND 0.80537 UNITI SHARES PER OPTICOMM SHARE
• UNITI HAS SECURED A 19.5% RELEVANT INTEREST IN OPTICOMM SHARES THROUGH COMMITMENTS
• REVISED CONSIDERATION IMPLIES TOTAL OFFER CONSIDERATION OF $5.85 PER OPTICOMM SHARE
• OPTICOMM'S DIRECTORS HAVE UNANIMOUSLY RECOMMENDED THAT ITS SHAREHOLDERS VOTE IN FAVOUR OF SCHEME IN ABSENCE OF A SUPERIOR PROPOSAL
• OPTICOMM ACCEPTS UNITI REVISED & SUPERIOR OFFER
• CONSIDERATION TO BE FUNDED VIA EXISTING UNITI CASH, UPSIZED $250 MILLION NEW DEBT FACILITY AND 84 MILLION UNITI SHARES TO BE ISSUED TO OPC SHAREHOLDERS
• ACQUISITION REMAINS HIGHLY EARNINGS ACCRETIVE OF ABOUT 20% ON COMBINED PROFORMA FY20 BASIS, INCLUDING COST SYNERGIES
• $4.835 CASH PER OPTICOMM SHARE COMPONENT OF SCHEME CONSIDERATION WILL BE ADJUSTED DOWNWARDS BY AGREED DIVIDEND
• OPTICOMM HAS DISCRETION TO DECLARE AND PAY A DIVIDEND OF $0.10 PER OPTICOMM SHARE