Fisher & Paykel Appliances Holdings Ltd : APPOINTMENT OF INDEPENDENT ADVISER
09/13/2012| 03:47am US/Eastern
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FPA Stock Exchange Release ASX/NZX 13 September 2012
APPOINTMENT OF INDEPENDENT ADVISER
On 11 September 2012, Fisher & Paykel Appliances Holdings
Limited ("FPA") announced that it had received notice from
Haier New Zealand Investment Holding Company Limited
("Haier") of Haier's intention to make a full takeover offer
for all of the ordinary shares in FPA not already held by
Haier at an offer price of $1.20 per share in cash.
The Board of Directors of FPA who are independent of Haier
(the "Independent Board") will consider Haier's proposed
offer, and oversee FPA's response obligations under the
Takeovers Code in respect of the proposed offer.
FPA has appointed Grant Samuel as independent adviser to
prepare a report on the merits of the proposed offer. Grant
Samuel's appointment as independent adviser has been approved
by the Takeovers Panel.
FPA, in conjunction with its advisers, will proceed to
prepare the target company statement required by the
Takeovers Code, and will circulate that document, together
with the independent adviser's report, to shareholders within
14 days after the date that Haier sends its offer document to
shareholders.
The Independent Board recommends that shareholders of FPA
take no action until the full details of the Independent
Board's assessment of the offer, including the directors'
recommendation together with the independent adviser's
report, has been provided to shareholders.
ENDS
For further information, please contact:
Matt Orr; Telephone +64 9 273-0600
Sign-up for email alerts at www.fp.co.nz/global/investors
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