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BRIEF-R2G says Pegas board supports offer price of CZK 1,010/share
August 25, 2017 / 4:49 AM / 3 months ago

BRIEF-R2G says Pegas board supports offer price of CZK 1,010/share

Aug 25 (Reuters) - Pegas Nonwovens

* R2G says Pegas board supports R2G’s voluntary offer price of CZK 1,010/share

* Board position says offer price is “fair”

* Offer launched on Aug 25 and valid until Sept 25

* Board says offer in line with company strategy in respect of future growth

* R2G says in takeover offer prepared to provide “significant” financing for growth including reinvestment of profits; ready to absorb short-term losses and limit or halt dividend

* Board says R2G readiness to lower or halt dividend payments to support growth not in line with currently valid dividend policy

* Pegas board says board member Jan Sykora of Wood & Company whose funds hold 28.8 percent of Pegas stock decided not to take part in decision-making related to takeover bid

* Stock closed at 1,019 crowns on Thursday Source text for Eikon: Further company coverage:

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