Edition:
United Kingdom

Ruralco Holdings Enters Into Scheme Implementation Deed With Nutrien Ltd


Wednesday, 27 Feb 2019 

Feb 27 (Reuters) - Ruralco Holdings Ltd ::RURALCO HAS ENTERED INTO A SCHEME IMPLEMENTATION DEED WITH NUTRIEN LTD.NUTRIEN HAS AGREED TO ACQUIRE 100% OF ISSUED SHARE CAPITAL OF RURALCO FOR A CASH PRICE OF $4.40 PER SHARE.DIRECTORS OF RURALCO UNANIMOUSLY RECOMMEND THAT RURALCO SHAREHOLDERS VOTE IN FAVOUR OF SCHEME.DIRECTORS OF RURALCO ALSO INTEND TO DECLARE AND PAY A FULLY FRANKED FY2019 INTERIM DIVIDEND (INTERIM DIVIDEND) OF UP TO 10 CENTS PER SHARE.EXPECTS TO DECLARE & PAY A FULLY FRANKED SPECIAL DIVIDEND OF UP TO 90 CENTS PER SHARE IN CASH ON OR SHORTLY BEFORE IMPLEMENTATION OF SCHEME.DEAL VALUES RURALCO'S FULLY DILUTED EQUITY AT ABOUT $469 MLN, AND AT AN ENTERPRISE VALUE OF $615 MLN.SCHEME IS EXPECTED TO BE IMPLEMENTED IN SECOND HALF OF 2019.