CVT
13/06/2014 09:22
ASSET
REL: 0922 HRS Comvita Limited
ASSET: CVT: Comvita Acquisition of New Zealand Honey Limited - Update
Global natural health products company Comvita (NZX: CVT) is providing an
update to its announcement of 22 May, in relation to the signing of a sale
and purchase agreement to acquire all the shares of New Zealand Honey Limited
from New Zealand Honey Producers Co-Operative Limited.
On 22 May we announced the composition of the purchase price of $12.3 million
comprised of $7.3 million in cash and $5 million in Comvita shares issued at
$3.50 per share.
Further negotiations have since been conducted around the composition of the
acquisition.
The financial settlement now comprises of $10.3 million in cash and $2
million in Comvita shares issued at $3.50 per share. All other terms of the
agreement as announced on 22 May remain unchanged.
The acquisition is now anticipated to be completed on 1 July rather than
mid-June as previously communicated.
# Ends #
For further information:
Brett Hewlett, Comvita CEO, 021 740 160
Neil Craig, Comvita Chairman, 021 731 509
Julie Chadwick, Comvita Communications Manager, 021 510 693
End CA:00251554 For:CVT Type:ASSET Time:2014-06-13 09:22:23
