Nuplex Industries Limited


Transaction Type: Scheme of arrangement

Offeror / Other Party: Allnex S.à.r.l

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

Date of meeting: 7/07/2016


Nuplex was a global chemical company that specialised in coating resins and listed on both the ASX and the NZX.

Advent International Corporation (Advent) was a global private equity investment firm.

Allnex S.à.r.l (Allnex) supplied speciality chemicals and operated in Belgium. Allnex was a wholly-owned subsidiary of Advent, and was registered in Luxembourg.

Allnex, proposed to acquire 100% of the shares in Nuplex via a scheme of arrangement. Consideration to be offered under the scheme was $5.43 per Nuplex share.

The Panel issued a letter of intention for the purpose of the initial High Court orders on 1 June 2016. The Panel considered the standard of disclosure to all shareholders in the draft scheme booklet and independent adviser’s report was equivalent to the standard required under the Code.

The first Court hearing for initial orders was held on 10 June 2016. The Nuplex shareholders resolved to approve the scheme on 7 July 2016.

The Panel provided a final no-objection statement on 15 July 2016.