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BRIEF-Uniti Group Says Opticomm Accepts Uniti revised & superior offer

Published 15/09/2020, 11:45 am
© Reuters.
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Sept 15 (Reuters) - Uniti Group Ltd UWL.AX :

* ENTERED INTO AMENDED AND RESTATED SCHEME IMPLEMENTATION DEED WITH OPTICOMM LTD

* UNITI IS OFFERING OPTICOMM SHAREHOLDERS UNCONDITIONAL, REVISED CONSIDERATION OF $4.835 CASH AND 0.80537 UNITI SHARES PER OPTICOMM SHARE

* UNITI HAS SECURED A 19.5% RELEVANT INTEREST IN OPTICOMM SHARES THROUGH COMMITMENTS

* REVISED CONSIDERATION IMPLIES TOTAL OFFER CONSIDERATION OF $5.85 PER OPTICOMM SHARE

* OPTICOMM'S DIRECTORS HAVE UNANIMOUSLY RECOMMENDED THAT ITS SHAREHOLDERS VOTE IN FAVOUR OF SCHEME IN ABSENCE OF A SUPERIOR PROPOSAL

* OPTICOMM ACCEPTS UNITI REVISED & SUPERIOR OFFER

* CONSIDERATION TO BE FUNDED VIA EXISTING UNITI CASH, UPSIZED $250 MILLION NEW DEBT FACILITY AND 84 MILLION UNITI SHARES TO BE ISSUED TO OPC SHAREHOLDERS

* ACQUISITION REMAINS HIGHLY EARNINGS ACCRETIVE OF ABOUT 20% ON COMBINED PROFORMA FY20 BASIS, INCLUDING COST SYNERGIES

* $4.835 CASH PER OPTICOMM SHARE COMPONENT OF SCHEME CONSIDERATION WILL BE ADJUSTED DOWNWARDS BY AGREED DIVIDEND

* OPTICOMM HAS DISCRETION TO DECLARE AND PAY A DIVIDEND OF $0.10 PER OPTICOMM SHARE

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