BRIEF-Peregrine Holdings Says Board At Meeting Held On June 12 Decided To Dispose Of Securities Busines

  • Reuters
  • Stock Market News
BRIEF-Peregrine Holdings Says Board At Meeting Held On June 12 Decided To Dispose Of Securities Busines

June 13 (Reuters) - Peregrine Holdings Ltd PGRJ.J :

* PEREGRINE BOARD, AT ITS BOARD MEETING HELD ON 12 JUNE 2018, DECIDED TO DISPOSE OF SECURITIES BUSINES

* PEREGRINE HAS AGREED TO DEAL EXCLUSIVELY WITH CONSORTIUM IN CONNECTION WITH PROPOSED TRANSACTION UP UNTIL 15 JULY 2018

* PURCHASE PRICE VALUES PEREGRINE SA'S SHAREHOLDING IN PEREGRINE SECURITIES AT R760 MILLION

* BOARD OF PEREGRINE HAS RECEIVED A NON-BINDING PROPOSAL FROM LEGAE HOLDINGS PROPRIETARY AND BLACK ECONOMIC EMPOWERMENT CONSORTIUM

* TRANSACTION PRICE OF R910 MILLION TRANSLATES TO PE RATIO EXCESS OF 9 TIMES 65% SHARE OF SECURITIES BUSINESS' PROFIT AFTER TAX FOR CURRENT FY ENDED MARCH 31

* PROPOSAL TO BUY AS 1 INDIVISIBLE DEAL FROM PEREGRINE SA ITS 65% SHAREHOLDING IN PEREGRINE SECURITIES, PEREGRINE FUND

* PROPOSAL TO BUY AS 1 INDIVISIBLE DEAL FROM PEREGRINE INTERNATIONAL HOLDINGS ITS 65% SHAREHOLDING IN PERESEC INTERNATIONAL

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