BRIEF-Gemgrow Signs Terms Agreement Upon Which Co Offered To Buy All Of Arrowhead Shares

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BRIEF-Gemgrow Signs Terms Agreement Upon Which Co Offered To Buy All Of Arrowhead Shares
Credit: © Reuters.

July 8 (Reuters) - Gemgrow Properties Ltd GPAJ.J :

* GEMGROW- SIGNED AGREEMENT SETTING TERMS UPON WHICH CO OFFERED TO BUY ALL OF ARROWHEAD SHARES, BUT EXCLUDING ARROWHEAD SHARES HELD IN TREASURY

* GEMGROW - CO SHALL, AS CONSIDERATION FOR EACH SCHEME SHARE ACQUIRED, ISSUE AND ALLOT TO SCHEME PARTICIPANTS 0.8237 GEMGROW B ORDINARY SHARES

* GEMGROW PROPERTIES LTD - POST IMPLEMENTATION OF TRANSACTION, COMBINED GROUP WILL TAKE STEPS TO STRENGTHEN ITS BALANCE SHEET BY REDUCING DEBT

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