Independent Adviser(s): Grant Samuel (Rule 18)

Company Meeting Date: 29/04/2013

Summary of transaction:

On 20 December 2012, Veritas Investments Limited (“Veritas”) entered into a sale and purchase agreement to acquire the Mad Butcher franchisor business from Mad Butcher Holdings Limited (“MBH”). The purchase price for the acquisition was $40 million (comprising cash and Veritas shares).

To fund the cash component of the purchase price, Veritas proposed to raise up to $25 million by way of an offer of Veritas shares to the public at an issue price of $1.30 per share.

As a result of the acquisition and the offer, it was likely that MBH would become the single largest shareholder in Veritas. Accordingly, the acquisition and the offer (together with the funding arrangements) were subject to approval by Veritas shareholders.

At a special meeting of shareholders, held on 29 April 2013, Veritas shareholders approved all of the resolutions required for Veritas to complete the acquisition of the Mad Butcher business.

Key Documents

Notice of Meeting:
Independent Adviser Report(s):