News: TGP Asia Pacific Data Centre updates on discussions with 360 Capital Group

Sept 8 (Reuters) - Asia Pacific Data Centre Group (AJD) :

• Has been in extensive ongoing discussions with 360 Capital Group regarding development of its alternative proposal to acquire APDC securities
• In considering alternative proposal, board informed 360 Capital that it is supportive of it submitting an all-cash, fully-funded takeover offer
• Board is not supportive of a debt funded capital distribution of $0.65 per APDC security
• Informed 360 Capital it does not propose to make capital distribution of $0.65 per APDC security as set out in proposal
• Recommends that APDC securityholders accept NEXTDC offer of $1.87 cash per APDC security, in absence of a superior proposal
• Remains open to 360 Capital to put forward an all-cash, fully-funded takeover bid at price exceeding NEXTDC offer