News: SGF Eclipx Group Rejects Proposal From SG Fleet To Acquire All Co's Shares

Aug 20 (Reuters) - Eclipx Group Ltd (ECX) :

• ECLIPX GROUP REJECTS PROPOSAL FROM SG FLEET,SGF-ECX.AX
• RECEIVED NON-BINDING & INDICATIVE PROPOSAL FROM SG FLEET ON AUGUST 19 TO ACQUIRE ALL CO'S SHARES VIA SCHEME OF ARRANGEMENT
• PROPOSAL IS HIGHLY CONDITIONAL AND INCLUDES SIGNIFICANT COMMERCIAL, DUE DILIGENCE AND FINANCING CONDITIONS
• PROPOSED CONSIDERATION OF $2.00 CASH AND 0.15 SG FLEET SHARES PER ECLIPX SHARE
• ECLIPX BOARD HAS THEREFORE REJECTED SG FLEET PROPOSAL
• INTENDS TO RETAIN UBS AG AND HERBERT SMITH FREEHILLS TO ADVISE IN THE MATTER