Opus Int'l Consultants share offer registered

26 September 2007

Opus International Consultants share offer registered

Opus International Consultants, the New Zealand-based international infrastructure, maintenance and design business, is intending to be listed on the New Zealand Stock Exchange.

Opus International Group Plc, the ultimate parent company of Opus International Consultants, today invited New Zealanders to invest in the company. It is proposed that 21% of the fully paid ordinary shares in Opus International Consultants be offered for sale as part of the initial public offering. 22 million existing shares in Opus International Consultants and 7 million new shares are being offered for sale under the Offer.
The indicative price range for the Offer shares is $1.45 to $1.70. The final price for shares will be announced on 8 October 2007.
Opus International Consultants has an established international presence in New Zealand, Australia, Canada and the United Kingdom. Its achievements include some of New Zealand’s most prominent projects including:

- Wellington’s inner city bypass
- Auckland’s northern busway
- Auckland’s upper harbour corridor project
- Auckland’s Britomart transportation centre
- Taihape’s Hihitahi State Highway 1 Realignment
- Palmerston North’s Te Apiti Wind Farm

Opus is a leading international multidisciplinary infrastructure consultancy and the largest professional infrastructure consultancy in New Zealand. It provides asset development and asset management services for infrastructure in the fields of engineering, architecture, planning and property management.

The company operates in five key sectors:

 Transportation Asset Management
 Transportation Asset Development
 Water
 Building Design and Construction
 Asset Management of Buildings and Infrastructure.

Opus International Consultants Ltd’s Chairman, Basil Logan, said the Offer is a very exciting development for the company.

“We have a proven growth record and are focussed on achieving further expansion. In the last four years, Opus has grown from a New Zealand company with limited international presence to a global consultancy with an established presence in the United Kingdom, Australia and Canada.

“Our international growth has seen Opus increase its international revenue by more than 300% in the same period.

In each of the countries outside New Zealand, Opus seeks to provide differentiation in the market based upon the quality of its technical services, the manner of its service delivery and the strength of its client relationships.
Since 2002, Opus has grown from a New Zealand company with limited international presence, into an international consultancy with over 2,145 full-time equivalent employees across 71 offices and 11 laboratories in New Zealand, Australia, Canada and the United Kingdom.

Opus’ is targeting further international growth, in particular within the markets in which it has established a presence. It intends to build on its demonstrated ability to successfully acquire, integrate and organically grow companies it has acquired, as well as building on the strong growth opportunities it has identified in New Zealand.

“Opus has a depth of skill and experience and local presence that is difficult to replicate. Our network of offices in New Zealand has allowed us to successfully establish many partnerships and long term contractual relationships with our clients in New Zealand,” said Mr Logan.

“In recognition of this outstanding performance, Opus was named the Service Exporter of the year and overall Supreme Exporter of the year at the 2006 New Zealand Trade and Enterprise Awards.

“The company boasts an experienced Board and an executive management team of 22 professionals that has an average of 31 years’ experience in New Zealand and international engineering consultancy markets. Opus’ Board provides a balanced range of skills and extensive experience in international markets,” he said.
Opus International Group Plc chairman, Tan Sri Dr. Ahmad Tajuddin, said the public listing of Opus will provide the Company with better access to the New Zealand capital markets, giving it an enhanced profile and further financial flexibility to pursue growth opportunities. “We consider this Offer an exciting step in Opus’ evolution that will see the Company well-placed to continue its highly successful international growth strategy.”

The Offer opens for staff tomorrow (27 September) and for clients of NZX firms on 8 October, closing at 5.00 pm, 26 October 2007. The company is expected to occur on the NZSX on 30 October.

The Offer consists of four parts:

1 An Institutional Offer to selected institutions investors in New Zealand, Australia, and possibly other selected jurisdictions (Institutional Offer).

2 A NZX Firm Offer open to Applicants who are clients of NZX Firms and who provide a registration address in New Zealand (NZX Firm Offer).
3 An Employee Offer open to employees of Opus as at 27 September 2007 in New Zealand, Australia, Canada and to fewer than 100 selected employees in the United Kingdom (Employee Offer).
4 An Australian acquisition offer of AUD$2m of Shares to certain Australian employees who are vendors of Qantec McWilliam as partial acquisition consideration (Australian Acquisition Offer).
First NZ Capital Limited is the lead manager of the Offer and Macquarie Securities (New Zealand) Limited is the co-lead Manager

Local knowledge makes a world of difference

- A well known and respected brand – Opus International Consultants
- 71 offices across five countries, employing more than 2100 staff (an increase of 75% in the past 4 years)
- 17% revenue and 28% EBITDA compound annual growth over the past four years
- Forecast growth in EBITDA of 23,073,000 (17.6%) in 2007 and 27,901,000 (17.3%) in 2008. (This information and other Prospective Financial Information can be found in the Registered Prospectus)
- Dividend policy that recommends 50% of NPAT twice yearly. It is intended dividends will carry imputation credits (to the extent they are available).
www.opus.co.nz

ENDS

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