Conditional Cash Offer

RNS Number : 5149H

Guinness Peat Group PLC

12 July 2012

 



GUINNESS PEAT GROUP plc

("GPG" or "the Company")

ANNOUNCEMENT

GPG made the following announcement today to the Australian Securities Exchange and the New Zealand Main Market.

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: [phone]

12 July 2012

GUINNESS PEAT GROUP PLC

("GPG" or the "Company")

GPG notes that ClearView Wealth Limited has today received a conditional cash offer for all of the outstanding shares in the Company at a price of A$0.50 per share.

GPG holds 210.7m shares, representing 47.8 per cent of the issued capital in ClearView Wealth Limited.

In GPG's opinion, the price offered represents a substantial discount to the fair value of ClearView Wealth Limited and is wholly inadequate. 

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: [phone]

12 July 2012

Enquiry details are:

New Zealand and Australian media:      Anthony Eisen (CIO) on:  [phone]

                                                     Geoff Senescall on:        [phone]

UK media:                                        Kevin Smith on:             [phone]

 

END

 

 

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