Village Roadshow Limited (ASX:VRL) has provided update on BGH transaction. Referring to the announcement dated 07 August 2020 related to Implementation Agreement between VRL and BGH Capital Pty Ltd, BGH proposed to acquire control of VRL via two alternative but concurrent schemes of arrangement.
As per the deal, parties agreed on a Cash Consideration of A$2.32 per VRL share under the Structure A Scheme and A$2.22 under Structure B Scheme. Warner Bros. Movie World and Sea World theme parks have been open for public. It would result in the Theme Park Uplift Event being initiated on 13 November 2020. Now, parties have agreed to confirm the uplift of A$0.12 per Share today.
Further, the implementation agreement provided possible price uplifts which include Border Uplift Event and a Cinema Uplift Event. Due to Queensland border limits as on 1 November 2020, plus the postponement of major film releases, those uplifts will not be payable.