Media release
Monday 20th December 2004 |
Text too small? |
Under the terms of the amalgamation, Eleos shareholders were given the option of electing cash or a combination of shares and cash in consideration of the amalgamation proceeding as outlined in Seekas registered prospectus of 16 November 2004.
The elections have been completed and accordingly today Seeka will allot an additional 378,263 new Seeka shares and pay cash of $7,581,848. Eleos shareholders will also benefit from a special dividend of $0.34 cents per Eleos share in addition to the ordinary dividend of $0.08 cents per share - both to be paid immediately prior to the amalgamation proceeding.
The cash portion of the consideration is to be funded from debt facilities.
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