Asahi Extends Closing Date Of Offer For Charlie’s Group

Published: Thu 4 Aug 2011 09:14 AM
Asahi Extends Closing Date Of Offer For Charlie’s Group
Asahi Beverages New Zealand Limited (Asahi) has extended the closing date of its 44 cents per share cash offer for all the shares in Charlie’s Group Limited (Charlie’s) by 14 days until midnight on 2 September 2011.
As at 3 August 2011 acceptances for 75.19% per cent of Charlie’s shares have already been received.
Asahi believes its offer of 44 cents per share is compelling for Charlie’s shareholders. The offer price represents a highly attractive valuation multiple for Charlie’s and lies near the upper end of the valuation range of 41 to 45 cents established by the Independent Adviser. The offer price of 44 cents is a 57 per cent premium to the last closing price for Charlie’s shares on the NZSX prior to the announcement of the offer on 4 July 2011.
Under the Takeovers Code, Asahi is obliged to give the shareholders of Charlie’s 14 days notice before extending the offer period. Accordingly, the offer period is being extended by 14 days to allow for the remaining shareholders to accept the offer.
No other aspects of the offer have changed. The offer is now only subject to Asahi receiving acceptances from holders of 90 per cent of the shares in Charlie’s and the usual conditions associated with an offer of this nature, details of which are set out in the offer document.
Shareholders who have not received the offer document, including an acceptance form, can call Computershare on 0800 727 475 (or, if calling from outside New Zealand, +64 9 4888 777).

Next in Business, Science, and Tech

Making A Single Plastic Bag Visible From Space
By: Eyesea
Commission Says Auckland Airport Charges Are Too High
By: Commerce Commission
NZ Post Adds New Eactros Electric Truck To Its Commercial Fleet
By: NZ Post
Book Just Out: Rammed Earth Builders Could Change Construction For Good If Government Let Them
By: Sally Webster
Māori Game Developers And Storytellers Explore China's Tech Scene
By: Asia New Zealand Foundation
REINZ June Data: Property Market A Little Chilly Amid Economic Challenges
View as: DESKTOP | MOBILE © Scoop Media