Aged care provider Japara Health Care (ASX:JHC)
has entered into a scheme implementation deed with Calvary Health Care by way of scheme of arrangement. This follows the previous proposal from Calvary to acquire 100 per cent of the shares in Japara.
If the scheme is implemented, Japara shareholders will receive total cash consideration of $1.40 per share on the date of implementation. It is expected that the scheme will be voted on at a meeting held in October 2021.
Japara shareholders are advised that no action is required by them in relation to the scheme at this time.The scheme consideration implies an equity value of approximately $380 million, and an enterprise value of approximately $588 million.
Japara chairman Linda Nicholls said, “the Japara Board is pleased to unanimously recommend this proposal to shareholders."
Shares in Japara (ASX:JHC)
are trading 18.2 per cent higher at $1.38.