Offeror(s): Rangatira Limited

Independent Adviser(s): Simmons Corporate Finance (Rule 21)

Offer Date: 17/12/2012

Closing Date: 15/02/2013

Offer Type: Full

Compulsory Acquisition

Summary of transaction:

On 17 December 2012, Rangatira Limited (“Rangatira”) made a full takeover offer for all the shares in New Zealand Experience Limited (“NZE”).

Key terms:

  • The offer price was $0.36 per share.

  • The offer was conditional on Rangatira receiving acceptances that would result in Rangatira holding or controlling at least 74.86% of the voting rights in NZE.

The Panel approved Simmons Corporate Finance to prepare a rule 21 Independent Adviser’s Report on the merits of the offer.

 On 14 February 2013, Rangatira announced that it had become the dominant owner.

The offer closed on 15 February. On 19 February, Rangatira issued a compulsory acquisition notice under rule 54 of the Code to acquire all the remaining shares in NZE.


We have not received consent to publish other documents in relation to this transaction on our website. However, copies of these documents are available upon request to the Panel under the Official Information Act 1982. Please send your written Official Information requests to