June 1 (Reuters) - AGF Management Ltd AGFb.TO :
* AGF MANAGEMENT LIMITED (AGF) PROVIDES UPDATE ON SMITH & WILLIAMSON PROSPECTIVE MERGER
* CONFIRMS TODAY THAT A REVISED TRANSACTION STRUCTURE HAS BEEN AGREED FOR PROPOSED MERGER BETWEEN TILNEY AND SMITH & WILLIAMSON
* REVISED TRANSACTION STRUCTURE INCLUDES A MATERIAL NEW EQUITY INVESTMENT FROM FUNDS ADVISED BY WARBURG PINCUS LLC
* BASED ON TERMS OF REVISED TRANSACTION STRUCTURE, AGF ESTIMATES THAT IT WILL RECEIVE TOTAL CASH OF APPROXIMATELY £176.5 MILLION
* IN REVISED TRANSACTION STRUCTURE, AGF WILL NO LONGER RETAIN ANY EQUITY CONSIDERATION IN MERGED GROUP