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BRIEF-Tilt Renewables Says Takeover Offer For Co Raised To NZ$8.10/Share

Published 16/04/2021, 06:00 pm
Updated 16/04/2021, 06:06 pm
© Reuters.

© Reuters.

April 16 (Reuters) - Tilt Renewables Ltd TLT.NZ :

* ANNOUNCES INCREASE IN SCHEME CONSIDERATION TO NZ$8.10 PER SHARE

* AMENDED SCHEME IMPLEMENTATION AGREEMENT WITH POWERING AUSTRALIAN RENEWABLES AND MERCURY NZ

* INCREASED CONSIDERATION OF NZ$8.10 PER SHARE VALUES CO AT AN EQUITY VALUE OF NZ$3,070 MILLION AND AN ENTERPRISE VALUE OF NZ$3,238 MILLION

* HAS AGREED TO A NUMBER OF AMENDMENTS TO ORIGINAL SIA

* AMENDMENTS TO ORIGINAL SIA INCLUDE REMOVING CO'S ABILITY TO PROGRESS ANY COMPETING PROPOSAL

* MERCURY HAS ISSUED A STATEMENT CONFIRMING ITS VOTING INTENTIONS IN RESPECT OF SCHEME

* NON-CONFLICTED DIRECTORS INTEND TO VOTE IN FAVOUR OF SCHEME AND RECOMMEND OTHER SHAREHOLDERS ALSO VOTE IN FAVOUR

* IF APPROVED, SCHEME IS EXPECTED TO BE IMPLEMENTED IN AUGUST

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