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BRIEF-Capral Receives Confidential Non- Binding Indicative Proposal From Allegro Funds Pty

Published 14/04/2021, 11:37 am
Updated 14/04/2021, 11:42 am
© Reuters.

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

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