July 14 (Reuters) - Programmed Maintenance Services Ltd (PRG)
- board recommends acquisition proposal from PERSOL
- PERSOL proposes to acquire 100% of issued share capital of programmed for a cash price of $3.02 (offer price) per share
- Programmed maintenance services ltd - cash consideration of $3.02 cash per share will be reduced by amount of any such special dividend.
- deal will have no impact on programmed's operations, customers and employees.
- directors unanimously recommend scheme, in absence of a superior proposal
- Offer price of $3.02 represents an enterprise value of $992 million
- PERSOL and co agreed that co's dividend reinvestment plan will be suspended in respect of fy17 final dividend of 3.5 cents
- Under proposal, programmed may declare and pay a fully-franked special dividend
