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BRIEF-Webster Enters Scheme Implementation Agreement With Canada's PSP Investments

Published 2019-10-02, 06:44 p/m
Updated 2019-10-02, 06:50 p/m
BRIEF-Webster Enters Scheme Implementation Agreement With Canada's PSP Investments

Oct 3 (Reuters) - Webster Ltd WBA.AX :

* WEBSTER ENTERS INTO SCHEME IMPLEMENTATION AGREEMENT WITH PSP INVESTMENTS

* PSP BIDCO, TO ACQUIRE ALL ORDINARY SHARES IN WEBSTER THAT IT DOES NOT ALREADY OWN FOR $2.00 IN CASH PER SHARE

* WEBSTER PREFERENCE SHAREHOLDERS TO BE OFFERED $2.00 PER PREFERENCE SHARE VIA A SEPARATE, CONTEMPORANEOUS SCHEME OF ARRANGEMENT

* SCHEME AND PREFERENCE SHARE SCHEME IMPLY A MARKET CAPITALISATION FOR WEBSTER OF APPROXIMATELY $724 MILLION

* PSP BIDCO ALSO INTENDS TO ACQUIRE ALL OF WEBSTER PREFERENCE SHARES FOR $2.00 PER PREFERENCE SHARE VIA A SEPARATE SCHEME

* CO ENTERS INTO A BINDING SCHEME IMPLEMENTATION AGREEMENT WITH PSP BIDCO AND SOOKE INVESTMENTS INC

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