June 26 (Reuters) - Silk Laser Australia Ltd (SLA) :
- ENTERS INTO BINDING IMPLEMENTATION DEED WITH AUSTRALIAN PHARMACEUTICAL INDUSTRIES
- SILK SHAREHOLDERS WILL BE ENTITLED TO RECEIVE TOTAL CASH CONSIDERATION OF A$3.35 PER SHARE
- API WILL ACQUIRE ALL SHARES IN SILK, BY WAY OF SCHEME OF ARRANGEMENT FOR CASH CONSIDERATION OF A$3.35 CASH PER SHARE
- SILK'S BOARD UNANIMOUSLY RECOMMENDS SCHEME
- SILK WILL HAVE DISCRETION TO PAY SHAREHOLDERS A FULLY FRANKED DIVIDEND OF UP TO A MAXIMUM OF 10 AU CENTS PER SHARE
- SCHEME IS EXPECTED TO BE IMPLEMENTED BY END OF NOVEMBER
