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BRIEF-NEXTDC updates on takeover offer of APDC by related entities of 360 Capital
September 26, 2017 / 9:44 AM / in 25 days

BRIEF-NEXTDC updates on takeover offer of APDC by related entities of 360 Capital

Sept 26 (Reuters) - NEXTDC Ltd

* Refers to bidder’s statement for takeover offer of Asia Pacific Data Centre Group by related entities of 360 Capital Group

* Proposed capital distribution raises APDC‘S debt to imprudent levels, not in best interests of all APDC securityholders, including co

* TGP is proposing to increase APDC‘S debt to $100 million in order to fund a $0.65 capital distribution

* Notes that 360 Capital has insufficient sources of funds to acquire all remaining APDC securities in which it does not have relevant interest

* Distribution financially assists 360 Capital in its purchase of APDC securities & would require approval by special resolution

* Co’s 29.2 percent blocking interest in APDC securities would preclude TGP from achieving requisite 75 percent voting threshold Source text for Eikon: Further company coverage:

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