Offeror(s): Holliday Group Holdings (ICT Investments) Limited

Independent Adviser(s): KordaMentha (Rule 21), Lonergan Edwards and Associates Limited (Rule 22)

Offer Date: 14/10/2013

Closing Date: 13/11/2013

Summary of transaction:

On 17 September 2013 Holliday Group Holdings (ICT Investments) Limited ("Holliday Group") announced that it would make a full takeover offer for all of the equity securities in Finzsoft Solutions Limited ("Finzsoft"). Finzsoft's equity securities comprised ordinary shares listed on the NZX Main Board ("Shares") and unlisted options issued to certain employees of Finzsoft under an option plan ("Options").

Key terms:

  • The consideration offered for each Share was $0.4546 in cash

  • The consideration offered for each Option ranged from $0.0746 to $0.2546 in cash per Option, depending on the terms of the relevant Option

  • The offer was conditional on the receipt by Holliday Group of acceptances which confer on Holliday Group 51% or more of the voting rights in Finzsoft.

  • ICT Investments (FS) Limited (which held approximately 63.61% of the voting rights in Finzsoft) had agreed to accept the offer.¬†

Key Documents

Takeover Offer:
Target Company Statement:
Independent Adviser Report(s):