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BRIEF-Thinksmart says board unanimously concluded that IPO of its UK business is "the preferred route"

Published 29/03/2016, 08:36 am
© Reuters.  BRIEF-Thinksmart says board unanimously concluded that IPO of its UK business is "the preferred route"
TSM
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March 29 (Reuters) - Thinksmart Ltd TSM.AX :

* Unanimously concluded that an IPO of its UK business through listing of Thinksmart Europe ltd, is the preferred route

* Says proposed IPO is likely to involve the sale of existing shares by Thinksmart and a placing of new shares to be issued by Thinksmart Europe

* Envisaged that Thinksmart would retain a majority shareholding in Thinksmart Europe following the IPO

* Says it is intended that Thinksmart Europe will have an independent board compliant with the UK's quoted company alliance guidelines

* Preparation for a UK IPO is already underway

* UK business has agreed a 5 year exclusive contract to provide carphone warehouse with multi-channel lease finance for Mobile phones

* Source text for Eikon ID:nASX11Y2fB

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