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BRIEF-Asia Pacific Data Centre updates on discussions with 360 Capital Group
September 8, 2017 / 12:09 AM / 19 days ago

BRIEF-Asia Pacific Data Centre updates on discussions with 360 Capital Group

Sept 8 (Reuters) - Asia Pacific Data Centre Group:

* Has been in extensive ongoing discussions with 360 Capital Group regarding development of its alternative proposal to acquire APDC securities

* In considering alternative proposal, board informed 360 Capital that it is supportive of it submitting an all-cash, fully-funded takeover offer

* Board is not supportive of a debt funded capital distribution of $0.65 per APDC security

* Informed 360 Capital it does not propose to make capital distribution of $0.65 per APDC security as set out in proposal

* Recommends that APDC securityholders accept NEXTDC offer of $1.87 cash per APDC security, in absence of a superior proposal

* Remains open to 360 Capital to put forward an all-cash, fully-funded takeover bid at price exceeding NEXTDC offer Source text for Eikon: Further company coverage:

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