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AXION VENTURES INC by Axion Ventures Inc.

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BrightSphere Investment Group plc Ordinary Shares

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New 52-Week Lows For Monday Morning

Adbri Ltd

<ul>
	<li>CRH plc, the leading provider of building materials solutions, together with the Barro Group (&quot;Barro&quot; and together with CRH the &quot;Partners&quot;) have entered into an agreement with Adbri Ltd (&quot;Adbri&quot; or the &quot;Company&quot;) in relation to a potential transaction to acquire Adbri that is recommended by the Independent Board Committee (IBC) of Adbri (the &quot;Proposal&quot;).</li>
	<li>The Partners have submitted a non-binding offer (the &quot;Offer&quot;) to acquire&nbsp;100%&nbsp;of the ordinary shares of the Company for a cash price of A$3.20 per share. Adbri recently announced that its 2023 underlying EBITDA is expected to be in a range of A$310 - A$315 million and the Offer represents a multiple of approximately 9x enterprise value to expected 2023 underlying EBITDA.</li>
	<li>Under the Proposal, CRH would partner with Barro, an Australian family-owned business and approximately&nbsp;43%&nbsp;shareholder of Adbri. CRH currently has a&nbsp;4.6%&nbsp;interest in the Company via a cash settled derivative and would acquire the remaining approximately&nbsp;57%&nbsp;of Adbri&#39;s shares not owned by Barro with the intention to delist Adbri from the ASX.</li>
	<li>The agreed cash consideration of A$3.20 per share values Adbri at an equity valuation of A$2.1 billion (US$1.4 billion) on a&nbsp;100%&nbsp;basis and values the approximately&nbsp;53%&nbsp;of issued share capital that the Partners do not currently have an interest in and which CRH has agreed to acquire at A$1.1 billion (US$0.75 billion).</li>
</ul>

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Reported Earlier, CRH And Barro Group Set To Acquire Building Materials Leader Adbri For A$2.1B

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