QUBE HOLDINGS LIMITED Media and Analysts conference call alert
Qube Consortium submits binding proposal to acquire Asciano
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Media Conference call with Qube Managing Director Maurice James Dial-in details
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Conference ID No: 511582
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am-11.30am - AEDT (NSW, VIC, TAS, ACT) - Analyst Briefing Conference Call
Analyst call with Qube Managing Director Maurice James and CFO Paul Lewis Dial-in details
Australia Toll Free: 1 800 558 698 OR 1 800 809 971
Australia Local: 02 9007 3187
International: +61 2 9007 3187
Conference ID No: 827338
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Further Enquiries:
Media Paul Lewis
Paul White Chief Financial Officer / Company Secretary
+61 417 224 920 +61 2 9080 1903
Tim Duncan
+61 408 441 122
Qube Holdings Limited Consortium submits binding proposal to acquire Asciano28 January 2016
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1
Transaction summary
Qube, GIP, CPPIB and CIC Capital (the "Consortium") has submitted a binding proposal to acquire all the issued share capital in Asciano that it does not already own
Offer of A$6.97 cash plus 1 Qube share for every Asciano share held for an implied value of:
A$9.17 per Asciano share based on Qube's 30 day1 VWAP of A$2.20; and
A$9.08 based on Qube's last closing price on 25 January 2016 of A$2.11, the trading day prior to the date of submission of the proposal
Asciano able to pay fully-franked permitted dividends of up to a maximum of A$0.90 per share, in aggregate, to enable franking benefits of up to A$0.386 per share to be distributed to shareholders (with the cash component of the consideration to be reduced by an equivalent amount)
The Proposed Transaction represents superior value to Brookfield Infrastructure Partners' ("Brookfield") uncertain, conditional scheme of arrangement and conditional takeover offer, which has a value of A$8.77 per share as at 25 January 20162
relative to Brookfield's proposed offering of CDIs, provides Asciano shareholders with a better legal and governance framework and no external management fees will be payable
provides Asciano shareholders with participation in future upside of the combination of Qube with Asciano's Ports businesses and direct exposure to benefits of Qube strategy and management
Clear, achievable regulatory path to completion
Note:
30 trading days to 25 January 2016.
Based on Brookfield's last closing price of US$32.82 on 25 January 2016, and exchange rate of 0.6956 US dollars per Australian dollar. 2
Qube Holdings Limited issued this content on 28 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 January 2016 22:43:31 UTC
Original Document: http://qube.com.au/downloads/announcements/Qube_Proposal_to_Asciano_-_Presentation_and_Conference_Call.pdf
