WHS
22/04/2015 16:03
GENERAL
NOT PRICE SENSITIVE
REL: 1603 HRS The Warehouse Group Limited
GENERAL: WHS: Zero Commission NZ Limited - Unsolicited Offer
22 April 2015
Zero Commission NZ Limited - Unsolicited Offer
The Warehouse Group Limited ("WHS") advises that Zero Commission NZ Limited
("Zero Commission") has notified it of their intention to write to certain
WHS shareholders with an unsolicited offer to buy their shares at $2.64 per
share. The market price for WHS shares was $2.80 per share as at close of
trading on 21 April 2015, so the offer is 5.7% lower than the closing price
on that date.
The presently proposed offer is expected to open on 23 April 2015 and close
on 27 May 2015. Additionally, WHS shareholders should be aware that Zero
Commission has indicated that they intend to make an unsolicited offer on the
same or similar terms within six months of the original offer.
WHS does not endorse this offer, or any subsequent offers made by Zero
Commission to purchase shares at a discount to the prevailing market price.
WHS recommends that shareholders who receive an offer letter from Zero
Commission:
o read Zero Commission's disclosure document and terms of the offer carefully
and thoroughly;
o seek independent financial and/or legal advice if they are uncertain about
the offer or are contemplating selling their WHS shares; and
o check the most recent market price for WHS shares
(https://www.nzx.com/companies/WHS).
Shareholders are under no obligation to accept any offer or to take any
action in respect of the Zero Commission offer. Unsolicited share offers are
subject to the Financial Markets Conduct Regulations 2014. Under these
regulations, unsolicited offers must be made within a clear and concise
disclosure document that outlines certain prescribed information.
Shareholders have the right to cancel any acceptance of the offer up to 10
working days after the date of their acceptance.
Shareholders accepting Zero Commission's offer should be aware that they are
likely to be in the position of being an unsecured creditor of Zero
Commission during the period between their shares being transferred to Zero
Commission and receiving full payment from Zero Commission.
ENDS
For further information, please contact:
Mark Yeoman, Group CFO +64 21 778 404
End CA:00263423 For:WHS Type:GENERAL Time:2015-04-22 16:03:48
