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Company News Summary

MYOB Group Releases Scheme Booklet and Sets Scheme Meeting Date

14 Mar 2019  |  08:18:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: MYOB releases Scheme Booklet and sets Scheme Meeting date

MYOB Group announced that the Federal Court of Australia has approved the convening of a meeting of its Shareholders to vote on the Scheme for the proposed acquisition by KKR of all the remaining shares in the Company that it does not currently own. The Scheme Meeting will take place on 17 April 2019 at Company's Offices. The Company entered into the Scheme Implementation Agreement with KKR BidCo (among others), under which it is proposed that KKR BidCo will acquire all of the Company Shares on issue that it and its Associates do not already own by way of the Scheme. Under the terms of the Scheme, if the Scheme becomes Effective, Scheme Shareholders will be entitled to receive the Scheme Consideration of $3.40 cash for each Scheme Share held as at the Scheme Record Date.

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