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BRIEF-Deltic Group says proposed terms for merger with Revolution Bars Group Plc​
October 5, 2017 / 6:34 AM / 2 months ago

BRIEF-Deltic Group says proposed terms for merger with Revolution Bars Group Plc​

Oct 5 (Reuters) - Revolution Bars Group Plc:

* CO, RANIMUL 1 LIMITED ANNOUNCE PROPOSED TERMS FOR A MERGER WITH REVOLUTION BARS GROUP PLC​

* ‍ENLARGED GROUP SHOULD BENEFIT FROM ABOUT £6.8 MILLION OF IDENTIFIED PRE-TAX COST SYNERGIES AND ABOUT £0.9 MILLION OF PRE-TAX FINANCING SYNERGIES​

* ‍MERGER PROPOSAL PROVIDES FOR COMBINATION UNDER WHICH EXISTING REVOLUTION SHAREHOLDERS WOULD OWN 65% AND RANIMUL SHAREHOLDERS 35% OF ENLARGED GROUP​

* ‍ENLARGED GROUP WOULD BE RUN BY CURRENT DELTIC MANAGEMENT TEAM​

* ‍THERE WILL BE NO CHANGE TO REVOLUTION‘S EXISTING DIVIDEND POLICY​

* ABOUT 45% OF IDENTIFIED SYNERGIES ARE EXPECTED TO BE GENERATED FROM HEADCOUNT RATIONALISATION

* ‍RANIMUL EXPECTS MERGER TO RESULT IN RECURRING ANNUAL PRE- TAX COST SAVINGS OF ABOUT £6.8 MILLION REALISED BY END OF SECOND FULL YEA​R Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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