Корпоративное действие Integra group gdr — merger

This corporate event is subject to approval at the general meeting to be held on 21/05/2014.

If approved, the effective date is expected to be 23/05/2014

The below information comes from london stock exchange and the Agent has no more information available for the moment

Integra group announces that it has received a proposal from certain members of the integra management team providing the outline terms of an acquisition of integra through a merger of integra with a company (bidco) formed by the participants

The participants and their affiliates collectively beneficially Own directly or indirectly approximately 30 pct of the issued Class a common shares of integra.

If the merger was to proceed, it is anticipated that the company would enter into a definitive agreement and plan of merger with bidco pursuant to which the shares of the company which the participants do not own, directly or indirectly, would be acquired or cancelled for usd 10 per class a common share or usd 20 per gdr each gdr represents 2 class a common shares

This represents a 33.3 pct premium over the closing price of usd 15 per gdr as quoted by the london stock exchange on 25/03/2014, The last trading day prior to this announcement.

The consideration to be paid to holders of class a common shares And gdrs implies an equity value of the company of approximately Usd 89.7 million, on a fully diluted basis.

The company’s board of directors has formed an independent Committee composed solely of directors of the company who are Unaffiliated with bidco or any of the participants to negotiate Exclusively the terms of the merger agreement with the assistance Of its financial and legal advisers.
The implementation of the merger agreement remains subject to a Number of pre-conditions, including completion of debt financing Arrangements by bidco and unanimous recommendation by the board Of integra.

Completion of the merger would be subject to integra shareholder Approval and regulatory and anti-trust approvals.

The independent directors urge holders of shares in integra and Gdrs to take no action in respect of the potential acquisition of Integra.

Deutsche bank ag, london branch is acting as exclusive financial Adviser to the independent directors. Latham and watkins llp is Acting as legal adviser to the independent directors.