JWI
28/10/2014 16:16
TAKEOVER
REL: 1616 HRS Just Water International Limited
TAKEOVER: JWI: Takeover Notice Received
TAKEOVER NOTICE RECEIVED
Just Water International Limited (NZAX:JWI) has today received a formal
takeover notice from The Harvard Group Limited, a company associated with Mr
Tony Falkenstein, together with its associates (as listed in the appendix to
the takeover notice) (together, the Harvard JV).
A copy of the takeover notice is attached. The proposed offer price is 15
cents per share, and the offer is conditional upon a number of matters
including receipt of acceptances that will result in Harvard JV holding or
controlling 90% of voting rights (although that condition maybe waived).
The Board has formed an independent committee of directors to consider the
proposed offer and has appointed KordaMentha to prepare an independent
adviser report under the Takeovers Code.
The independent committee will keep shareholders advised of further
developments. The committee recommends that shareholders do not sell their
shareholdings in the company in the meantime.
Paul Connell
Chairman
Just Water International Limited
+64 (21) 454561
About Just Water International Limited:
Just Water International Limited operates in New Zealand and Australia
supplying water-coolers, drinking water and filters for the home and office.
The Company was listed on the New Zealand Stock Exchange (Alternative Market)
in 2004.
The New Zealand business was started in 1989, and has grown to a base of over
35,000 recurring contracts, the Company deriving a recurring income from
monthly rental, water sales or maintenance agreements.
The Australian business arose through the acquisition of Clearwater Filter
Systems (Aust) Pty Limited in 2005 to take advantage of the growth of
point-of-use water-coolers in Australia. Clearwater has its Head Office in
Sydney, with branch offices in Brisbane and Melbourne.
End CA:00256907 For:JWI Type:TAKEOVER Time:2014-10-28 16:16:11
