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Company News Summary

ERM Power Announces Determination to Pay Special Dividend

08 Nov 2019  |  14:04:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Determination to pay Special Dividend

ERM Power announced that it Board has, following the conclusion of the Scheme Meeting, determined to pay a fully franked special dividend of $0.085 per share conditional on the Scheme becoming Effective. The Company updated that the shareholders will receive the Total Cash Consideration of $2.42 per share, comprising (Special Dividend) the Special Dividend of $0.085 in cash per share held by them on the Special Dividend Record Date. Payment of the Special Dividend is expected to be made on 25 November 2019; and (Scheme Consideration) Scheme Consideration of $2.335 in cash per Share held by them on the Scheme Record Date. Payment of the Scheme Consideration is expected to be made on 29 November 2019.

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