New Zealand Experience Limited


Transaction Type: Takeover (Full)

Offeror: Rangatira Limited

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

Offer commencement date: 17/12/2012

Offer closing date: 15/02/2013


On 17 December 2012, Rangatira Limited (Rangatira) made a full takeover offer for all the shares in New Zealand Experience Limited (NZE).

Key terms:

  • The offer price was $0.36 per share.
  • The offer was conditional on Rangatira receiving acceptances that would result in Rangatira holding or controlling at least 74.86% of the voting rights in NZE.

On 14 February 2013, Rangatira announced that it had become the dominant owner.

The offer closed on 15 February. On 19 February, Rangatira issued a compulsory acquisition notice under rule 54 of the Code to acquire all the remaining shares in NZE.

Simmons Corporate Finance prepared a rule 21 Independent Adviser’s Report on the merits of the offer.


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