Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<a href="https://www.smartkarma.com/entities/24370" target="_blank" data-smartkarma-citation="entities:24370:1">Tegel Group Holdings (TGH NZ)</a> has <a href="http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TGH/324296/287316.pdf" target="_blank">announced</a> it has received Overseas Investment Office (OIO) approval for Bounty Holdings New Zealand Limited’s (“Bounty”) acquisition of the company. The Offer has now been declared unconditional.
For those shareholders who tendered - the Offer closed on the 24 August - they will receive the A$1.23/share cash consideration within 7 calendar days.
Bounty, with &gt;90% of shares at the <a href="http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TGH/322862/285455.pdf" target="_blank">close of the Offer</a> - 96.113% to be exact - can now exercise compulsory acquisition of all outstanding shares. An Acquisition Notice will be provided to shareholders who have not tendered by tomorrow.
Shareholders who did not accept the Offer will have a period of 21 days after the date on which the Acquisition Notice is sent to complete and return an "instrument of transfer" (IOT). For shareholders who did not accept the Offer and return the IOT within this 21-day period, Bounty will pay $1.23/share within 7 days after receiving that IOT.
If a shareholder did not accept the Offer AND does not return the IOT within this 21-day period, Bounty will be required to deposit within 7 days each shareholder’s consideration into a bank account, to be held on trust until it is claimed.

Tegel Group Holdings (TGH NZ) has announced it has received Overseas Investment Office (OIO) approval for Bounty Holdings New Zealand Limited’s (“Bounty”) acquisition of the company. The Offer has now been declared unconditional.
For those shareholders who tendered - the Offer closed on the 24 August - they will receive the A$1.23/share cash consideration within 7 calendar days.
Bounty, with &gt;90% of shares at the close of the Offer - 96.113% to be exact - can now exercise compulsory acquisition of all outstanding shares. An Acquisition Notice will be provided to shareholders who have not tendered by tomorrow.
Shareholders who did not accept the Offer will have a period of 21 days after the date on which the Acquisition Notice is sent to complete and return an "instrument of transfer" (IOT). For shareholders who did not accept the Offer and return the IOT within this 21-day period, Bounty will pay $1.23/share within 7 days after receiving that IOT.
If a shareholder did not accept the Offer AND does not return the IOT within this 21-day period, Bounty will be required to deposit within 7 days each shareholder’s consideration into a bank account, to be held on trust until it is claimed.

<a href="http://www.bountyfreshchicken.com/about-us" target="_blank">Bounty Fresh</a>'s Offer for <a href="https://www.smartkarma.com/entities/24370" target="_blank" data-smartkarma-citation="entities:24370:1">Tegel Group Holdings Ltd (TGH NZ)</a> at NZ$1.23/share will close this Saturday, August 25th (the extended Closing Date). This is the last day in which to tender - it will not be extended, having reached the end of the permissible Offer period under New Zealand's Takeovers Code.
The minimum acceptance condition of 50% has been satisfied. The offer remains subject to approval under the <a href="http://www.legislation.govt.nz/act/public/2005/0082/27.0/DLM356881.html" target="_blank">Overseas Investment Act</a>, which is administered by the Overseas Investment Office (OIO). Under the Takeovers Code, Bounty can declare the offer unconditional 30 days after the extended Closing Date, or 24 September. If approved, payment under the Offer will be made within 7 days.
Shares closed at $1.13, a 7.0% spread to the cash offer of $1.23 vs. 26.5% downside to the unaffected price.
This is a small cap company (US$269mn) and low liquidity (US$0.5mn). If this does not float your boat, look away now.

Bounty Fresh's Offer for Tegel Group Holdings Ltd (TGH NZ) at NZ$1.23/share will close this Saturday, August 25th (the extended Closing Date). This is the last day in which to tender - it will not be extended, having reached the end of the permissible Offer period under New Zealand's Takeovers Code.
The minimum acceptance condition of 50% has been satisfied. The offer remains subject to approval under the Overseas Investment Act, which is administered by the Overseas Investment Office (OIO). Under the Takeovers Code, Bounty can declare the offer unconditional 30 days after the extended Closing Date, or 24 September. If approved, payment under the Offer will be made within 7 days.
Shares closed at $1.13, a 7.0% spread to the cash offer of $1.23 vs. 26.5% downside to the unaffected price.
This is a small cap company (US$269mn) and low liquidity (US$0.5mn). If this does not float your boat, look away now.

New Zealand

Tegel Group Holdings Limited provides poultry processing services. The Company offers products such as chilled delis, fresh chicken, kebabs, wraps, roasted chicken, sausages, and turkey. Tegel Group Holdings markets its products in New Zealand.

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