Keppel Ltd. · SGX:BN4
Keppel — Merger or Acquisition (November 2021)
6 slides from Keppel's merger presentation, Nov 10, 2021
Slide 1: Keppel Pegasus' Final Consideration for Singapore Press Holdings
Keppel Pegasus’ Final Consideration for Singapore Press Holdings Limited excl. SPH Media (“SPH”) 10 November 2021
Slide 2: Disclaimer
Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. THIS PRESENTATION SHALL NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL, SUBSCR
Slide 3: Compelling Final Consideration of S$2.351/share
Compelling Final Consideration of S$2.351/share Initial Consideration1 Final Consideration2 as of 2 Aug as of 9 Nov Attractive premiums Additional upside S$2.351 +12%7 from Receive KREIT units at S$2.099 S$0. 798 Initial Consideration1 10% discount to NAV8 0.782 SPH REIT S$0. units3 716 +9% premiu
Slide 4: Highest transaction certainty for SPH shareholders
Highest transaction certainty for SPH shareholders 1 Firm and irrevocable offer Supplemental implementation agreement signed 2 Regulatory approvals obtained Regulatory approvals from MAS and FIRB obtained, no approvals required from IMDA No certainty of approvals by other Offerors 3 Material a
Slide 5: Compelling acquisition for Keppel
Compelling acquisition for Keppel Rare opportunity to acquire synergistic Proposed acquisition remains attractive to Keppel platform aligned to Keppel’s business even at Final Consideration Uniquely positioned to enhance and unlock Increase in cash consideration of S$0.200/share underpinned by v
Slide 6: Indicative transaction milestones
Indicative transaction milestones Date Milestone 9 Nov 2021 Announcement of Keppel Pegasus’ Final Consideration Despatch of Chapter 10 Circular by Keppel and Composite Document including By 23 Nov 2021 Offeror’s Letter by SPH By end of Nov / early Dec 2021 Keppel EGM On or before 8 Dec 2021