INDEPENDENT NEWS

Austron’s Successful Offer Now Unconditional

Published: Wed 12 Sep 2012 05:12 PM
News Release
Austron’s Successful Offer Now Unconditional
12 September 2012 – Austron Limited today advised that all conditions had been satisfied or waived for its successful partial takeover offer for Acurity Health Group Limited (formerly Wakefield Health Limited). Payment to accepting shareholders of the $6.00 per share cash offer would take place over the coming seven days.
The total number of shares accepted under the partial takeover offer was 10,604,989, or 61.44%. The directors of Austron said the level of oversubscriptions for its $6.00 per share offer clearly demonstrated that its offer price was attractive and represented fair value. Accepting shareholders would have taken stock of the fact that the $6.00 per share offer price represented a 25% premium to the price immediately prior to the offer been made and was $1.15 higher than the $4.85 price set in late 2011 by Acurity for its recent capital raise.
Under the stated terms of the partial takeover offer Austron is only permitted to take its holding to 50.01%. Some scaling has therefore been required. However, Austron wished to make it clear that all shareholders, irrespective of the number of shares they hold, have been treated in the same way. All shareholders who have accepted up to 50.01% of their Acurity shares have had those accepted. All those who have chosen to sell more into the offer have had the portion of shares in excess of 50.01% scaled.
Austron is a joint venture controlled and owned by Acurity’s two largest shareholders, Royston Hospital Trust Board and Medusa Limited.
ENDS

Next in Business, Science, and Tech

Buy-now, Pay-later Raking In $10m+ In Late Fees Annually
By: Consumer NZ
Catherine Mcgrath Appointed CEO, Westpac New Zealand
By: Westpac New Zealand
AWS To Open Data Centres In New Zealand
By: Amazon Web Services
Surge In Imports Results In Record Monthly Trade Deficit
By: Statistics New Zealand
Fonterra completes reset, announces annual results and long-
By: Fonterra
GDP rises in the June 2021 quarter
By: Statistics New Zealand
National Welcomes Amazon’s Investment In New Zealand’s Digital Future
By: New Zealand National Party
View as: DESKTOP | MOBILE © Scoop Media