Jan 20 (Reuters) - VIRTUS HEALTH LTD (VRT) : CAPVEST PROPOSAL...

Jan 20 (Reuters) - VIRTUS HEALTH LTD (VRT) :

• CAPVEST PROPOSAL AND GRANT OF EXCLUSIVE DUE DILIGENCE PERIOD
• RECEIVED A PROPOSAL FROM CAPVEST TO ACQUIRE 100% OF VIRTUS BY WAY OF A SCHEME OF ARRANGEMENT OFFERING A$7.60 CASH PER SHARE
• CAPVEST WILLING TO PROCEED WITH ALTERNATIVE TRANSACTION STRUCTURE WHICH REQUIRES ACCEPTANCE BY 50.1% OF VIRTUS SHAREHOLDERS
• BOARD DETERMINED CAPVEST PROPOSAL IS ATTRACTIVE FOR SHAREHOLDERS
• AGREED TO PROVIDE CAPVEST WITH OPPORTUNITY TO CONDUCT EXCLUSIVE DUE DILIGENCE TO FACILITATE DEVELOPMENT OF A BINDING OFFER FOR VIRTUS
• HAS ENTERED INTO A PROCESS DEED WITH CAPVEST