New Image Group Limited


Transaction Type: Takeover (Full)

Offeror: New Image Trustee Limited

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

Offer commencement date: 1/02/2013


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.


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