April 9 (Reuters) - Ashford Inc:
* ASHFORD ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE REMINGTON’S PROJECT MANAGEMENT DIVISION
* CONSIDERATION IN FORM OF CONVERTIBLE PREFERRED STOCK CONVERTIBLE AT $140 PER SHARE
* TRANSACTION IS EXPECTED TO BE IMMEDIATELY ACCRETIVE TO ADJUSTED NET INCOME PER SHARE
* COMPANY WILL ACQUIRE REMINGTON’S PROJECT MANAGEMENT BUSINESS FOR A TOTAL TRANSACTION VALUE OF $203 MILLION
* BOARD OF DIRECTORS UNANIMOUSLY APPROVED TRANSACTION AND RECOMMENDED ITS APPROVAL BY COMPANY’S STOCKHOLDERS
* PURCHASE PRICE WILL BE PAID BY ISSUING VOTING, CONVERTIBLE PREFERRED STOCK TO SELLERS
* UPON CLOSING OF TRANSACTION, SELLERS WILL HAVE RIGHT TO NOMINATE TWO DIRECTORS TO CO’S BOARD OF DIRECTORS Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)