Prime Media Intends to Pay Special Dividend of A$0.03 per share

  • Dec 09, 2019 AEDT
  • Team Kalkine

Seven West Media Limited (ASX: SWM) is currently in the process acquiring Prime Media Group via a scheme of arrangements. Today, Seven West Media has noted the announcement of Prime Media Group Limited wherein Prime Media has announced that it intends to pay a fully franked special dividend of A$0.03 per share (Special Dividend), conditional on the scheme of arrangement by Seven.

The Special Dividend is expected to be paid on Monday, 6 January 2020 and if the Scheme becomes effective, Prime shareholders would receive:

  • The Special Dividend of A$0.03 for each Prime share they hold on the Special Dividend record date
  • The Scheme consideration of 0.4582 Seven shares for each Prime share that they hold on the Scheme record date

 

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