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MDM Engineering Group Ltd Enters Into Merger Implementation Agreement With Sedgman Limited

Thursday, 29 Nov 2012 05:14pm EST 

MDM Engineering Group Ltd announced that it has entered into a merger implementation agreement (MIA) with ASX-listed Sedgman Limited (ASX: SDM) under which Sedgman's BVI subsidiary will acquire all of the ordinary shares in MDM, subject to MDM shareholder approval by greater than 75% of the votes cast and certain other conditions (the Offer, the Transaction or the Merger). Under the terms of the Merger, MDM shareholders (other than certain key shareholders, being those shareholders, with certain exceptions, who made an early and irrevocable pledge of their shares in support of the Merger (Key Shareholders)) will be offered GBP 1.81 cash for each MDM share they hold (the Offer Price or the Cash Consideration). Certain Key Shareholders will be offered a combination of 70% cash consideration and 30% of their consideration in Sedgman shares (Consideration Shares) for their MDM shares (equivalent to GBP 1.81 per share). 

Company Quote

-0.0050 -1.01%
12:49am EDT