Dye & Durham Makes Revised Proposal To Link Group In Light Of Regulatory Liability

Dye & Durham Limited (DND.TO), a Canadian provider of cloud-based technology solutions, said that it has made a revised proposal to Link Administration Holdings Limited (LNK.AX) with respect to Dye & Durham's proposed acquisition of Link Group.

Dye & Durham noted that the revised proposal maintains consideration of up to A$4.81 per Link Group share, on which the Company and Link Group agreed in July. Of the total, Dye & Durham has proposed to pay A$3.81 per share upon the successful implementation of the acquisition's scheme. Up to A$1.00 per share, being the remaining portion of the purchase price, would be payable upon a final and binding conclusion of the UK Financial Conduct Authority's active enforcement investigation into Link Fund Solutions Ltd. or "LFS" within 24 months of the closing.

Under Dye & Durham's revised proposal, if Link Fund Solutions is not found liable by the UK Financial Conduct Authority for restitution or redress payments related to the Woodford Fund then Link Group shareholders would receive the full remaining A$1.00 per share from Dye & Durham. If the FCA rules that LFS is in fact liable for redress, and that amount is less than 306 million pounds, Dye & Durham would make a cash payment per Link Group share based on the difference between 306 million pounds and the actual redress amount.

The company anticipates that completion of deal could occur by the end of calendar 2022.

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