Offeror(s): WSI Holdings Pty Ltd

Independent Adviser(s): Northington Partners (Rule 21)

Offer Date: 27/11/2012

Closing Date: 19/03/2013

Offer Type: Full

Compulsory Acquisition

Summary of transaction:

On 27 November 2012, WSI Holdings Pty Ltd (“WSI”) made a full takeover offer for all the shares in New Zealand Wool Services International Limited (“NZ Wool Services”).

Key terms:

  • The offer price was $0.45 per share.

  • The offer was conditional on (among other things):

    • WSI receiving acceptances which, when taken together with the NZ Wool Services shares already held or controlled by WSI, would confer more than 50% of the voting rights in NZ Wool Services.

    • Overseas Investment Office approval.

WSI became the dominant owner on 4 March 2013 with acceptances in respect of 93.9% of NZ Wool Services. WSI issued a compulsory acquisition notice under rule 54 of the Code to acquire all the remaining shares in NZ Wool Services.

WSI successfully completed its full takeover on 19 March 2013. On 21 March 2013, NZ Wool Services was delisted from NZX.

Key Documents

Target Company Statement:
Other Document(s):