Fletcher Building Limited (“Fletcher Building”) today announced an extension to the offer period for its proposed acquisition of Crane Group Limited (“Crane”). Fletcher Building gives notice that the offer period is being extended by 14 days and will now close on Friday 25 March 2011, unless extended.
Fletcher Building Chief Executive Officer Jonathan Ling said, "We urge Crane shareholders to accept without delay to enable the offer to proceed. Accepting shareholders will receive payment on our accelerated timeframe, once the offer is unconditional."
The offer, which has been unanimously recommended by Crane directors (in the absence of a superior proposal), has received strong shareholder support with acceptances from approximately 50% of shareholders. As at 3 March 2011 the aggregate of Fletcher Building’s relevant interest in Crane shares and the Crane shares subject to the Institutional Acceptance Facility was 43 per cent. All Crane directors have now accepted the offer in respect of shares they own or control. The offer closing date is now Friday 25 March 2011, unless further extended. Shareholders requiring additional assistance should call the Offer Information Line on 1300 042 036 (toll free for calls made within Australia), 0800 505 529 (free call for calls made within New Zealand) or +61 3 9938 4357 (for calls made outside Australia or New Zealand).
Attached, are copies of the following documents:
- a letter to Crane shareholders in relation to the extension of the offer period;
- a notice under section 650D of the Corporations Act 2001 (Cth) (“Corporations Act”) to extend the offer period to 7.00pm AEDT on 25 March 2011; and
- a notice under section 630(2) of the Corporations Act, which confirms that 18 March 2011 is the new date for giving notice as to the status of the conditions of the offer.
For further information contact:
Philip King
General Manager
Investor and Media Relations
Ph: +64 9 525 9043
Mob: + 61 411 362 362
Mark Rudder
Cosway Australia
Mob: +64 27 444 0203
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