Full Takeover Offer: RULE 28 VARIATION NOTICE
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Mr Chips Holdings Limited (MCH) | 5:05 pm, Friday 5 September 2008 | MCH | 2.740 |
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(+0.00%) |
SIMPLOT MR CHIPS LIMITED: FULL TAKEOVER OFFER FOR MR CHIPS HOLDINGS LIMITED: RULE 28 VARIATION NOTICE
We refer to the full takeover offer for the ordinary shares of Mr Chips Holdings Limited (MCH) by Simplot Mr Chips Limited (Simplot) dated 8 August 2008 (Takeover Offer).
On behalf of Simplot and in accordance with Rule 27(d) of the Takeovers Code we advise that the Offer period of the Takeover Offer is hereby extended from 19 September 2008 and will now close on 27 October 2008. Accordingly therefore the latest date by which Simplot can declare the Takeover Offer unconditional is 10 November 2008.
Yours sincerely
QUIGG PARTNERS
David Quigg
Partner
For and on behalf of Simplot Mr Chips Limited
5 September 2008
Dear Shareholder
Mr Chips Holdings Limited – full takeover offer by Simplot Mr Chips Limited
We refer to the full takeover offer for the ordinary shares of Mr Chips Holdings Limited (Mr Chips) by Simplot Mr Chips Limited (Simplot) dated 8 August 2008 (Takeover Offer).
Simplot has now received acceptances under the Takeover Offer representing more than 90% of the Mr Chips shares on issue, satisfying an important condition of the Takeover Offer. Other conditions to the Takeover Offer still remain outstanding and Simplot is presently working through these conditions with Mr Chips.
Pursuant to Rule 27(d) of the Takeovers Code, Simplot advises that the offer period for the Takeover Offer is hereby extended from 19 September 2008 and will now close on 27 October 2008. Accordingly therefore the latest date by which Simplot can declare the Takeover Offer unconditional is 10 November 2008.
The purpose of this extension is for technical reasons as it will allow “late acceptance†(i.e. those acceptances that would have been received after 19 September should the Takeover Offer be allowed to close on the existing date of 19 September) to be processed up to the date of anticipated compulsory acquisition being completed (the end of October).
Simplot is committed to successfully concluding the Takeover Offer and is hopeful that all conditions can be satisfied as quickly as possible.
Subject to the timely satisfaction or waiver of the outstanding conditions and receipt of certain waivers from the NZX, it is the present intention of Simplot that all acceptors of the Takeover Offer will be paid for their Mr Chips shares before or close to the end of September 2008 however Simplot reserves the right to pay acceptors at a later date in accordance with the provision of the Takeover Offer.
Yours sincerely
SIMPLOT MR CHIPS LIMITED

Terrence O’Brien
Director
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