July 9 (Reuters) - Praemium Ltd PPS.AX :
* POWERWRAP LTD - PRAEMIUM LIMITED AND POWERWRAP LIMITED ENTERED INTO A BID IMPLEMENTATION AGREEMENT
* POWERWRAP- PROPOSED THAT PRAEMIUM WILL MAKE AN OFF-MARKET CONDITIONAL TAKEOVER BID FOR POWERWRAP
* POWERWRAP- OFFER VALUES POWERWRAP AT AN INDICATIVE PRICE OF 26.44 CENTS PER POWERWRAP SHARE
* POWERWRAP- UNANIMOUSLY RECOMMEND THAT POWERWRAP SHAREHOLDERS ACCEPT OFFER & INDICATED THAT THEY WILL ACCEPT OFFER
* POWERWRAP-UNDER OFFER EACH POWERWRAP SHARE HOLDER TO GET 7.5 CENTS PER POWERWRAP SHARE IN CASH & 1 PRAEMIUM SHARE FOR EVERY 2 POWERWRAP SHARES HELD
* POWERWRAP LTD - PRAEMIUM INTENDS TO FUND CASH COMPONENT OF OFFER CONSIDERATION THROUGH A $15 MILLION TERM LOAN FACILITY