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News: OML HT&E Announces Sale Of Adshel

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    June 25 (Reuters) - Ht&E Ltd (HT1) :

    • ANNOUNCES ADSHEL SALE AND CAPITAL MANAGEMENT
    • ENTERED INTO BINDING DOCUMENTATION TO SELL ITS OUT OF HOME BUSINESS, ADSHEL, TO OOH!MEDIA LIMITED
    • DEAL FOR A$570 MILLION
    • CAPITAL RETURN TO BE CONDUCTED BY WAY OF ON-MARKET SHARE BUYBACK AND FULLY FRANKED SPECIAL DIVIDEND ONCE SALE OF ADSHEL COMPLETES
    • TOTAL APPLIED TO CAPITAL MANAGEMENT OF ABOUT A$275 MILLION TO BE CONDUCTED BY WAY OF A FULLY FRANKED SPECIAL DIVIDEND OF ABOUT $220 MILLION
    • REMAINDER OF CAPITAL MANAGEMENT TO FUND ON- MARKET BUYBACK (UP TO 10% THRESHOLD)
 
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