7 December 2015
King Country Energy Holdings Limited, a subsidiary of Trustpower Limited, has made a full takeover offer for King Country Energy Limited.
KCE advises that Trustpower declared the offer unconditional in all respects on 3 December 2015 and has today acquired Nova Energy Limited’s 54.07% shareholding under the offer. Following that acquisition, Nova’s representatives of the KCE board, Timothy Cosgrove and Mahadevan Bahirathan, resigned as KCE directors and two representatives of Trustpower, Vincent Hawksworthand Paul Ridley-Smith, were appointed to the KCE board.
The offer will remain open for acceptances until 11.59pm on 29 January 2016, unless Trustpower extends the offer in accordance with the Takeovers Code. As the offer is now unconditional in all respects, Trustpower will pay KCE shareholders who accept the offer within seven days after acceptance.
KCE’s Target Company Statement was sent to KCE shareholders on 2 December 2015, and accompanies Trustpower’s Offer Document. KCE shareholders should read the Target Company Statement carefully and in full before deciding whether or not to accept Trustpower’s offer.