April 14 (Reuters) - Capral Ltd CAA.AX :
* RECEIVED A CONFIDENTIAL NON- BINDING INDICATIVE PROPOSAL FROM ALLEGRO FUNDS PTY
* ALLEGRO FUNDS TO ACQUIRE 100% OF SHARES IN CAPRAL FOR $7.00 CASH PER SHARE
* BOARD CONSIDERS THAT PROPOSAL HAS POTENTIAL TO PROVIDE SHAREHOLDERS WITH A LIQUIDITY EVENT
* IN ORDER TO FACILITATE DUE DILIGENCE PROCESS, CAPRAL AND ALLEGRO HAVE ENTERED INTO A PROCESS DEED
* CONCLUDED IT IS IN BEST INTERESTS OF CO'S SHAREHOLDERS TO ALLOW ALLEGRO TO PROCEED WITH ITS DUE DILIGENCE INVESTIGATIONS
* CONCLUDED IT IS IN BEST INTERESTS OF CO'S SHAREHOLDERS TO ENGAGE FURTHER WITH ALLEGRO TO PROGRESS PROPOSAL
* BOARD'S INTENTION TO RECOMMEND THAT SHAREHOLDERS VOTE IN FAVOUR OF PROPOSED TRANSACTION IN ABSENCE OF A SUPERIOR PROPOSAL
* BOARD NOTES THAT THERE IS NO CERTAINTY THAT A BINDING OFFER WILL BE FORTHCOMING OR THAT PROPOSAL WILL RESULT IN A TRANSACTION OCCURRING