March 27, 2018 / 9:11 AM / 4 months ago

BRIEF-Royal Bank Of Scotland Says Unit Silvermere Proposes 53 Mln​ Stg Cash Offer For FreeAgent

March 27 (Reuters) - Royal Bank Of Scotland:

* ‍RECOMMENDED CASH OFFER FOR FREEAGENT HOLDINGS PLC​

* ‍RECOMMENDED CASH OFFER FOR FREEAGENT HOLDINGS PLC BY SILVERMERE HOLDINGS

* ‍UNDER TERMS OF ACQUISITION, SCHEME SHAREHOLDERS WILL BE ENTITLED TO RECEIVE 120 PENCE IN CASH FOR EACH FREEAGENT SHARE HELD​

* ‍OFFER PRICE REPRESENTS A PREMIUM OF APPROXIMATELY 86.0 PER CENT TO CLOSING PRICE PER FREEAGENT SHARE OF 64.5 PENCE ON MARCH 26​

* ‍DEAL TERMS VALUING ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF FREEAGENT AT APPROXIMATELY £53 MILLION​

* ‍FREEAGENT DIRECTORS INTEND UNANIMOUSLY TO RECOMMEND THAT FREEAGENT SHAREHOLDERS VOTE IN FAVOUR OF SCHEME AT COURT MEETING​

* RBS INTENDS TO OPERATE FREEAGENT AS OPERATIONALLY INDEPENDENT MEMBER OF RBS GROUP, RETAINING FREEAGENT’S EXISTING MANAGEMENT TEAM

* ‍INTENDS TO CONTINUE TO USE FREEAGENT BRAND IN TANDEM WITH ITS EXISTING ROYAL BANK OF SCOTLAND AND NATWEST BRANDS​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below