Aug 1 (Reuters) - Superloop Ltd (SLC) :
- RECEIVES ACQUISITION PROPOSAL FROM SUPERLOOP LIMITED
- RECEIVED A NON- BINDING INDICATIVE PROPOSAL FROM SUPERLOOP LIMITED TO ACQUIRE ALL OF SHARES IN SYMBIO VIA SCHEME OF ARRANGEMENT
- UNDER TERMS OF INDICATIVE PROPOSAL, SYMBIO SHAREHOLDERS WOULD RECEIVE A$1.425 CASH AND 2.14 SUPERLOOP SHARES FOR EACH SYMBIO SHARE
- INDICATIVE PROPOSAL CONTEMPLATE A FULLY FRANKED DIVIDEND TO SYMBIO SHAREHOLDERS PRIOR TO SCHEME IMPLEMENTATION OF UP TO A$0.35 PER SHARE
- INDICATIVE PROPOSAL VALUES SYMBIO AT A$2.85 PER SHARE
- BOARD HAVE UNDERTAKEN A REVIEW OF INDICATIVE PROPOSAL AND HAVE ENTERED INTO NON-DISCLOSURE AND EXCLUSIVITY AGREEMENTS WITH SUPERLOOP
- A 4 WEEK PERIOD OF RECIPROCAL EXCLUSIVITY COMMENCING ON 1 AUG AGREED TO FURTHER PROGRESS INDICATIVE PROPOSAL
- BELIEVES THERE IS SUFFICIENT COMMERCIAL MERIT IN INDICATIVE PROPOSAL TO ENTER INTO EXCLUSIVE PERIOD FOR MUTUAL DILIGENCE
- NO CERTAINTY AT THIS STAGE INDICATIVE PROPOSAL WILL PROGRESS TO A PROPOSAL TO BE CONSIDERED BY CO'S SHAREHOLDERS
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