Offeror(s): New Image Trustee Limited

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

Offer Date: 01/02/2013

Offer Type: Full

Compulsory Acquisition

Summary of transaction:

On 1 February 2013, New Image Trustee Limited (“NIT”) made a full takeover offer for all the voting securities in New Image Group (“New Image”).

The consideration offered was $0.26 per New Image share.

The offer was subject to, among other things, NIT receiving acceptances that would result in it holding or controlling 90% or more of the voting rights in New Image.

NIT gave notice on 6 May that it had become the dominant owner for the purposes of the Code. On 7 May, NIT sent its compulsory acquisition documents to compulsorily acquire the remaining New Image shares from the outstanding shareholders.

New Image was delisted from NZX on 22 May 2013.

 

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 takeovers.panel@takeovers.govt.nz