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DuluxGroup Ltd Increases Voting Power In Alesco Corporation Limited To 85.79%

Monday, 26 Nov 2012 02:35am EST 

DuluxGroup Ltd announced that the total of its voting power in Alesco Corporation Limited (Alesco) and acceptance instructions under Company's Institutional Acceptance Facility as at 5pm on November 26, 2012, is 85.79%. Earlier, the Company had 18.33% of voting power in Alesco. In accordance with the terms of the Takeover Implementation Agreement (TIA) between the Company and Alesco, the Company has notified Alesco that its interest in Alesco is approaching 90%. Under the TIA, Alesco agreed that on receiving the notification, it may determine an additional dividend of up to AUD 0.27 per share (additional dividend). Subject to this occurring on November 27, 2012, the Company currently intends to declare its offer unconditional on December 11, 2012, (in accordance with the timing agreed under the TIA) and proceed to pay accepting shareholders by December 18, 2012. 

Company Quote

0.025 +0.48%
11:34pm EDT