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Asahi Extends Closing Date Of Offer For Charlie’s Group

Asahi Extends Closing Date Of Offer For Charlie’s Group

Asahi Beverages New Zealand Limited (Asahi) has extended the closing date of its 44 cents per share cash offer for all the shares in Charlie’s Group Limited (Charlie’s) by 14 days until midnight on 2 September 2011.

As at 3 August 2011 acceptances for 75.19% per cent of Charlie’s shares have already been received.

Asahi believes its offer of 44 cents per share is compelling for Charlie’s shareholders. The offer price represents a highly attractive valuation multiple for Charlie’s and lies near the upper end of the valuation range of 41 to 45 cents established by the Independent Adviser. The offer price of 44 cents is a 57 per cent premium to the last closing price for Charlie’s shares on the NZSX prior to the announcement of the offer on 4 July 2011.

Under the Takeovers Code, Asahi is obliged to give the shareholders of Charlie’s 14 days notice before extending the offer period. Accordingly, the offer period is being extended by 14 days to allow for the remaining shareholders to accept the offer.

No other aspects of the offer have changed. The offer is now only subject to Asahi receiving acceptances from holders of 90 per cent of the shares in Charlie’s and the usual conditions associated with an offer of this nature, details of which are set out in the offer document.

Shareholders who have not received the offer document, including an acceptance form, can call Computershare on 0800 727 475 (or, if calling from outside New Zealand, +64 9 4888 777).


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