Airwork Holdings Limited


Transaction Type: Takeover (Partial)

Offeror: Zheijiang RIFA Holding Group Co

Independent Adviser(s): Grant Samuel & Associates Limited (Rule 21)

Offer commencement date: 8/12/2016

Offer closing date: 5/03/2017


On 5 October 2016, Zheijiang RIFA Holding Group Co (RIFA) gave notice of its intention to make a partial takeover offer to acquire 75% of the fully paid ordinary shares on issue in Airwork Holdings Limited (Airwork) at $5.40 per share. A second notice was given on 8 November 2016, to allow more time to obtain required third party approvals prior to any formal offer being made.

RIFA subsequently sent the offer to Airwork shareholders on 8 December 2016. The offer closed on 5 March 2017, and became unconditional on 14 March 2017. The level of acceptances reached 94.464%. Acceptances were then scaled back to 75%.


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