Independent Adviser(s): Simmons Corporate Finance (Rule 18)

Company Meeting Date: 14/08/2012

Transaction summary:

Foley Family Wine Holdings, New Zealand Limited (“Foley Holdings”) held all the shares in Foley Family Wines NZ Limited (“Foley Family Wines”).

Foley Holdings entered an agreement with The New Zealand Wine Company Limited (“NZ Wine”) to merge the businesses of Foley Family Wines and NZ Wine. The merger would be completed by Foley Holdings selling all of its shares in Foley Family Wines to NZ Wine, and NZ Wine allotting shares in NZ Wine to Foley Holdings as consideration.

Following the allotment, Foley Holdings would hold or control 77.5% of the shares in NZ Wine.

The allotment was approved at a meeting of shareholders on 14 August 2012. 

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