Completion of the A2 Dairy Products Pty Limited Acquisition
A2 Corporation Limited (NZAX:ATM) (A2C) is delighted to announce that completion of the A2 Dairy Products transaction has now occurred.
The board of A2C warmly welcomes Freedom Nutritional Products Limited (ASX:FNP) (FNP) as a new cornerstone shareholder of A2C, together with the appointment of Geoffrey Babidge and Melvyn Miles as non executive directors of A2C and Perry Gunner as the deputy chairman of the A2C board.
As announced previously, under the A2 Dairy Products transaction:
· A2C purchased from FNP the 50% interest in A2 Dairy Products it did not already own, such that the A2C now owns 100% of the shares in A2 Dairy Products.
· As consideration for the acquisition of the A2 Dairy Products shares, A2C issued FNP:
- 120,376,950 fully-paid A2C ordinary shares comprising 25% of the enlarged share capital of A2C;
- an option, for a period of 12 months, to increase its shareholding in A2C up to 27.5%, through the issue of further ordinary shares at an issue price of the NZD-equivalent of A$0.11 per share at the time of exercise;
- an option to acquire fully paid A2C ordinary shares equal to 25% of any of the 20 million partly-paid shares that become fully paid; and
- the right, for a period of 12 months, to participate in any capital raising and thereby acquire such number of further A2C shares as is required to maintain its shareholding percentage.
For further information, please contact:
| Richard Le Grice, Director +64 27 472 2145 | David Mair, Director +64 21 708 021 |
