June 23 (Reuters) - PayGroup Ltd (PYG) :
- ENTERS INTO SCHEME IMPLEMENTATION AGREEMENT WITH DEEL, INC. AND DEEL AUSTRALIA HOLDINGS
- UNDER DEAL DEEL AUSTRALIA WILL ACQUIRE 100% OF PAYGROUP SHARES FOR CASH OFFER PRICE OF A$1.00 PER SHARE VIA SCHEME OF ARRANGEMENT
- PAYGROUP BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
- CONSIDERATION IMPLIES A TOTAL EQUITY VALUE FOR PAYGROUP OF APPROXIMATELY A$119.3 MILLION
- IF APPROVED, SCHEME IS EXPECTED TO COMPLETE IN OCTOBER 2022
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