KMD
03/09/2015 09:44
TAKEOVER
NOT PRICE SENSITIVE
REL: 0944 HRS Kathmandu Holdings Limited
TAKEOVER: KMD: KMD - Acknowledgement of Announcement by Briscoe Group
KATHMANDU HOLDINGS LIMITED
ASX/NZX/MEDIA ANNOUNCEMENT
3 September 2015
ACKNOWLEDGEMENT OF ANNOUNCEMENT BY BRISCOE GROUP THAT THERE WILL BE NO
INCREASE IN OFFER PRICE OR EXTENSION OF THE OFFER PERIOD
The Directors of Kathmandu Holdings Limited ("Kathmandu") acknowledge the
announcement by Briscoe Group Limited ("Briscoe Group") yesterday in relation
to its unsolicited takeover offer ("Offer").
In that announcement, Briscoe Group stated that it will not be increasing the
Offer price, nor will it extend the Offer period, unless the Offer becomes
unconditional as to level of acceptances. Briscoe Group also noted that the
closing date for the Offer will remain 17 September 2015.
Under the Financial Markets Conduct Act a company is required to announce to
the market any change in its aggregate interest in listed securities, where
acceptance in respect of an offer representing 1% or more are received. As at
2 September 2015, Briscoe Group has not announced the receipt of any
acceptances of more than 1% in relation to the Offer to the New Zealand Stock
Exchange.
The Directors of Kathmandu believe that the Offer is inadequate and does not
reflect the underlying value of Kathmandu and accordingly, continue to
recommend that Kathmandu shareholders REJECT the Offer from Briscoe Group.
Shareholders are advised to take no action in response to the Offer.
For further information please contact:
Media:
Helen McCombie
Citadel-MAGNUS
+61 2 9290 3033
Investors:
Reuben Casey
Chief Financial Officer
+64 3 968 6166
End CA:00269579 For:KMD Type:TAKEOVER Time:2015-09-03 09:44:29
