Transaction Type: Scheme of arrangement
Offeror / Other Party: GWA Group Limited
Independent Adviser(s): Grant Samuel & Associates Limited
Date of meeting: 12/03/2019
Methven Limited (Methven) proposed to undertake a Court-approved scheme of arrangement under Part 15 of the Companies Act 1993 to effect the acquisition of 100% of Methven’s shares by GWA Group Limited (GWA). GWA was an Australian company that supplied building fixtures and fittings. The consideration payable under the proposed scheme was NZD$1.60 cash per share.
Methven's shareholders voted to approve the scheme on 12 March 2019. The High Court granted final orders approving the scheme on 27 March 2019.
Grant Samuel & Associates Limited prepared an independent adviser’s report on the merits of the proposed scheme.