June 15, 2020 / 8:21 AM / 25 days ago

BRIEF-Buderim Group Says Received Bid For Ginger Division​

June 15 (Reuters) - Buderim Group Ltd:

* RECEIVED AN INDICATIVE, NON-BINDING OFFER FROM GLOBAL FOODS GROUP TO ACQUIRE COMBINED GINGER AND TOURISM BUSINESS ASSETS

* DEAL FOR $8.3 MILLION GROSS VALUE

* EXPECTED THAT COMPLETION OF PROPOSED TRANSACTION WILL BE SUBJECT TO COSHAREHOLDER APPROVAL & FIJI REGULATORY APPROVAL

* IF PROPOSED TRANSACTION PROCEEDS, CO’S CEO, ANDREW BOND, EXPECTED TO TRANSFER WITH GINGER BUSINESS TO GLOBAL FOODS

* CURRENTLY CONSULTING WITH ASX ON APPLICATION OF CHAPTER 11 OF LISTING RULES

* DENNIS LIN TO BECOME EXECUTIVE DIRECTOR TO LEAD DEMERGER & DRIVE CO'S FUTURE POST GINGER BUSINESS PLAN & STRATEGY Source text: (Source text here) Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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