Nov 13 (Reuters) - Consolidated Operations Group COG.AX :
* CO AND CML GROUP ENTERED SCHEME IMPLEMENTATION AGREEMENT FOR A PROPOSED MERGER
* PROPOSED MERGER TO ESTABLISH FINANCIAL SERVICES GROUP FOCUSING ON SERVICING SME BUSINESSES IN AUSTRALIA
* ANNOUNCES LAUNCH OF EQUITY RAISING OF A$20.2M
* CML GROUP TO CONDUCT EQUITY RAISING OF A$14.5M
* CML WILL PAY A DIVIDEND OF A$0.03 PER CML SHARE IMMEDIATELY PRIOR TO SCHEME IMPLEMENTATION DATE
* COG WILL ACQUIRE ALL OF ISSUED SHARE CAPITAL OF CML
* DEAL FOR A SCRIP CONSIDERATION OF 5.4 COG SHARES FOR EVERY 1 CML SHARE HELD
* DEAL VALUES EQUITY OF CML AT APPROXIMATELY A$111.4 MILLION
* CML WILL PAY A DIVIDEND OF A$0.03 PER CML SHARE IMMEDIATELY PRIOR TO SCHEME IMPLEMENTATION DATE
* CML BOARD HAS UNANIMOUSLY RECOMMENDED THAT, IN ABSENCE OF A SUPERIOR PROPOSAL CML SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
* PROPOSED MERGER EXPECTED TO BE IMMEDIATELY EPS ACCRETIVE