Investment in ClearView Wealth Limited

RNS Number : 0135L

Guinness Peat Group PLC

29 August 2012

 

GUINNESS PEAT GROUP

("GPG")

CLEARVIEW WEALTH LIMITED IN AUSTRALIA

GPG has today made the following Announcement which has been released on the Australian Securities Exchange.

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel:  [phone]

GPG notes that:

·      Clearview Wealth Limited (ACN 106 248 248) (Clearview) has confirmed in its announcement dated 29 August 2012 that within one business day of CCP BidCo Pty Limited's (Crescent) revised offer of $0.55 per ClearView share under its off market takeover bid for all the issued shares of ClearView (Improved Offer) becoming unconditional, it will declare and pay an unfranked special dividend of 2.2 cents per ClearView share (in addition to the franked 1.8 cent dividend per ClearView share previously announced), thereby taking the total dividends to 4 cents per ClearView share (Dividends); and

·      Crescent has confirmed in its announcement dated 29 August 2012 that existing ClearView shareholders (including GPG) will be entitled to retain those Dividends, such that existing ClearView shareholders' rights to those Dividends will not be deducted from the offer price under Crescent's Improved Offer.

GPG confirms that it will accept Crescent's Improved Offer in respect of its beneficial holding of 210,699,272 ClearView shares within 2 business days of the Improved Offer formally being made (that being the date Crescent's offer is formally varied in accordance with the requirements of section 650D of the Corporations Act 2001 (Cth))

Anthony Eisen

Chief Investment Officer

Guinness Peat Group plc

Tel:  [phone]

29 August 2012

 

END

 

 

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