March 15 (Reuters) - ARN Media Ltd (A1N) : REVISED INDICATIVE...

March 15 (Reuters) - ARN Media Ltd (A1N) :

• REVISED INDICATIVE PROPOSAL WOULD IMPLY UP TO AN ADDITIONAL 10 AU CENTS OF VALUE PER FULLY DILUTED SCA SHARE
• UPDATE ON NON-BINDING INDICATIVE PROPOSAL TO ACQUIRE SCA
• CONSORTIUM NOTES SCA'S ANNOUNCEMENT ON 7 MAR
• INDICATIVE PROPOSAL WAS DESCRIBED AS NOT BEING IN BEST INTERESTS OF SCA SHAREHOLDERS
• CONSORTIUM DISAGREES WITH ASSESSMENT
• CONSORTIUM RECONFIRMED INDICATIVE PROPOSAL MULTIPLE TIMES SINCE 18 OCT
• CONSORTIUM REMAINS OPEN TO ENGAGING WITH SCA IN A CONSTRUCTIVE MANNER
• NO BINDING AGREEMENT TO IMPLEMENT REVISED INDICATIVE PROPOSAL HAS BEEN REACHED WITH SCA AT THIS TIME
• NO CERTAINTY THAT A TRANSACTION WILL EVENTUATE
• CONSORTIUM WILLING TO ADJUST ARN EXCHANGE RATIO TO UP TO 0.870 ARN SHARES PER FULLY DILUTED SCA SHARE
• CONSORTIUM CONSIDERS THAT A BINDING TRANSACTION CAN BE ENTERED INTO QUICKLY TO PROVIDE CERTAINTY TO BOTH ARN AND SCA SHAREHOLDERS
• ARN'S CURRENT INTENTION TO VOTE ABOUT 8% OF 14.8% OF ISSUED SHARE CAPITAL IN SCA THAT IT HOLDS IN FAVOUR OF PROPOSED RESOLUTIONS

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