News: PDL Perpetual Announces Rejection Of Conditional, Non-Binding Indicative Proposal

Nov 3 (Reuters) - Perpetual Ltd (PPT) :

• REJECTION OF CONDITIONAL, NON-BINDING INDICATIVE PROPOSAL
• INDICATIVE PROPOSAL OF A$30.00 CASH PER SHARE 1 MATERIALLY UNDERVALUES PERPETUAL
• GOT UNSOLICITED CONDITIONAL, NON-BINDING INDICATIVE PROPOSAL FROM A CONSORTIUM COMPRISING BPEA PRIVATE EQUITY FUND VIII AND REGAL PARTNERS
• PERPETUAL IS COMMITTED TO PROGRESSING ITS ACQUISITION OF PENDAL GROUP
• BOARD BELIEVES THAT IT IS NOT IN BEST INTERESTS OF ITS SHAREHOLDERS TO ENGAGE ON THIS OFFER AND HAS THEREFORE REJECTED OFFER
• BOARD ADVISES SHAREHOLDERS TO TAKE NO ACTION AT THIS TIME