ATM | NZ$10.750
A2M | AU$10.150
ATM Share Price
As at 2018-12-16 03:34:28
NZ$10.750
$-0.380 / -3.414%
A2M Share Price
As at 2018-12-14 17:38:57
AU$10.150
$-0.500 / -4.690%
Expand Menu
Release of Notice of Meeting and Updated Earnings Figures for A2 Dairy Products - The a2 Milk Company

Market announcements

Release of Notice of Meeting and Updated Earnings Figures for A2 Dairy Products

July 2, 2010

Notice of Meeting

A2 Corporation Limited (NZAX:ATM) (A2C) today released to its shareholders a notice of a special meeting of shareholders. This special meeting will be held at 11.00 am on 20 July 2010 at the offices of Simpson Grierson in Auckland.

The meeting has been called to consider a number of resolutions in relation to the completion of the acquisition of the 50% interest in A2 Dairy Products Pty Limited (A2 Dairy Products) that A2 Corporation does not already own (the Transaction) from Freedom Nutritional Products Limited (ASX:FNP) (FNP).

Full details of the Transaction and the resolutions to be considered are set out in the notice of meeting and the explanatory notes to the resolutions. The Takeover Code also requires that an independent advisers report is prepared to assess the merits of the proposed allotment of shares under the terms of the Transaction. This report was prepared by Simmons Corporate Finance and accompanies the notice of meeting.

The notice of meeting is being sent to all shareholders (either by post or, if the shareholder has elected, by email). The notice of meeting can also be downloaded from the NZX website.

A2 Dairy Products Earnings Update

Future earnings projections for A2 Dairy Products were provided to the independent adviser in order to complete his report.

The Board of A2C believes this future earning information is positive for A2C shareholders and should be drawn to their attention. The independent advisers report states, when assessing the value of A2 Dairy Products (contained at page 36 of the report), that:

Earnings growth has continued in the June 2010 financial year, with EBITDA forecast at A$2.4 million on sales of 15.8 million litres and the budget for the 2011 financial year is for EBITDA of A$3.4 million on sales of 19.5 million litres.

The Board strongly recommends that all shareholders read the notice of meeting and independent advisers report in their entirety.

 

For further information, please contact:

Richard Le Grice, Director
+64 27 472 2145
David Mair, Director
+64 21 708 021

 

View all announcements at

NZX              ASX

Back to top