- Release Date: 28/10/14 16:16
- Summary: TAKEOVER: JWI: Takeover Notice Received
- Price Sensitive: No
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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
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