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Company News Summary

Mantra Group Responds to Media Speculation

09 Oct 2017  |  10:09:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Response to Media Speculation

Mantra Group confirmed that it has received an indicative and non-binding proposal from Accor S.A. (Accor) in relation to a potential control transaction (Proposal), to be implemented by way of a Company's scheme of arrangement, at $3.96 cash per share (on a fully diluted basis), being $4.02 per share less the final FY2017 dividend that has already been paid, and including a potential special dividend. It has granted Accor access to due diligence to determine if a transaction can be agreed and recommended unanimously by the Company's Board. It has retained Highbury Partnership as financial adviser and Baker McKenzie as legal adviser to assist it in responding to the Proposal.

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