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