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Bapcor Advises on Hellaby Offer - Reaches 50% and Waives 90% Condition

10 Jan 2017  |  13:08:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Hellaby Offer - Bapcor reaches 50% and waives 90% condition

Bapcor advised that it has received acceptances for 50.1% of Hellaby's shares. Given this, the Bapcor Board has decided to waive the 90% Acceptance Condition under its Offer. As the Company has already received acceptances in respect of more than 50% of the Hellaby Shares, the waiver of the 90% acceptances condition means that the minimum acceptance condition in the Company's Offer has been satisfied. Hellaby shareholders have to accept the Offer until 18 January 2017. The Company reserves the right to extend the closing date for the Offer as permitted under the Takeovers Code.

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