Owens Board Recommends Shareholders Accept New Price

Mainfreight Limited today increased its offer for 100% of the shares in Owens Group Limited (Owens) to $1.10 per share.

The revised offer is within the fair value range assessed in the Independent Advisers Report completed by Deloitte Corporate Finance. On this basis the Board of Owens has unanimously decided to recommend that shareholders accept the revised offer of $1.10 per share.

Owens Directors holding shares in Owens have all indicated that they will accept the revised offer.