Bellamy's Australia Ltd Scheme Implementation Deed with China Mengniu Dairy Co Ltd M&A Call Transcript
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Good morning, everyone. Thank you for dialing in to the Bellamy's call with regards to the announcement this morning. With me today is Deputy Chair, John Murphy; Chief Executive Officer, Andrew Cohen; and Chief Financial Officer, Nigel Underwood.
Prior to the market open, Bellamy's posted a material announcement to state that it has entered into a scheme implementation deed with China Mengniu Dairy Company Limited. This scheme proposes to deliver Bellamy shareholders a total cash amount of $13.25 cash per share. The Board unanimously recommend the offer, and each director, including myself, intend to vote any shares they hold in favor of the scheme.
This scheme comprises of 2 parts, totaling cash amount of $13.25 cash per share. The first part is a $12.65 cash payment per share from Mengniu to acquire 100% of shares issued in Bellamy's under the scheme. The second part is an additional special dividend of $0.60 per share. This will be fully franked at approximately $0.26 per share, subject to availability
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