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Programmed Maintenance Services Announces Proposed Acquisition and Non-Renounceable Issue
Thursday October 29, 2009, 9:30 am

Original Announcement: Proposed Acquisition of KLM Group / Non Renounceable Issue

Programmed Maintenance Services announced it has signed a Takeover Bid Implementation Agreement with KLM under which the Company will make an off-market takeover bid to acquire all of the issued shares in KLM for a total consideration of $28.1m cash. Under the Proposed Offer, each KLM shareholder will receive $0.47 per KLM share payable in cash. The Company also announced that it is undertaking an equity raising through a 4 for 19 non-renounceable, pro rata entitlement offer to fund the acquisition and to fund other potential acquisitions.

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