SAI GLOBAL / BARING ASIA Private Equity Fund VI : Implementation of Scheme Arrangement
SAI Global Limited (ASX:SAI) (“SAI Global”) is pleased to announce that the scheme of arrangement between SAI Global and its shareholders that was approved by SAI Global shareholders on 5 December 2016 and by the Federal Court of Australia on 9 December 2016 (“Scheme”) was implemented today. Accordingly:
- Baring Asia Private Equity Fund VI (through its subsidiary Casmar (Australia) Pty Limited) now holds all of the shares on issue in SAI Global; and
- the Scheme Consideration of A$4.75 for each SAI Global share held as at 7.00pm (Sydney time) on Monday, 19 December 2016 will be paid to Scheme Shareholders (as defined in the Scheme) today.
Further, directors Andrew Dutton, David Spence, Robert Aitken, Anna Buduls, Sylvia Falzon and Peter Day have resigned as directors of SAI Global. Geoff Richardson, Paul Butcher and Malcolm Pascoe have been appointed as new directors of SAI Global. Peter Mullins remains on the Board as Managing Director and Chief Executive Officer of SAI Global. Also, Hanna Myllyoja has resigned as Company Secretary and Hean Siew has been appointed to the position of Company Secretary.
Trading in SAI Global shares on the ASX was suspended from the close of trading on Monday, 12 December 2016, and SAI Global has applied to have quotation of its shares terminated and for SAI Global to be removed from the official list of the ASX with effect from close of trading on 28 December.
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