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).
- 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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