News: SLC Superloop updates on acquisition of BigAir Group Limited and capital raising

Sept 13 (Reuters) - Superloop Ltd (SLC) :

• Acquisition of BigAir Group Limited and capital raising (SLC)
• Says entered into a scheme implementation deed with asx-listed BigAir Group

  Limited

• Financial close is expected in December 2016 and will be subject to BigAir

  shareholder approval, court approval

• Proposed that Superloop will acquire 100% of bigair's shares on issue by way

  of a scheme of arrangement

• Says unanimously recommend that BigAir shareholders vote in favour of the

  scheme

• Superloop expects that it will be able to implement a dividend policy in

  conjunction with its FY 2017 results

• Acquisition will be significantly accretive to superloop's earnings per share
• Significantly accretive to superloop's earnings per share
• Cash component of the consideration for the proposed acquisition will be

  funded in part by scrip issued to existing BigAir shareholders

• Cash consideration of up to $95 million to be funded by a combination of the

  placement and a new $75 million revolving debt facility

• Placement of fully paid ordinary shares to institutional and sophisticated

  investors in Australia and New Zealand to raise $65 million