Update following dispatch of HOCHTIEF Australias bidder statement

March 16, 2022
  • Financial
  • Corporate

CIMIC Group Limited notes the announcement on 11 March 2022 by HOCHTIEF Australia Holdings Limited confirming it has completed the dispatch of its bidder’s statement, which contains a takeover offer dated 10 March 2022 (Offer). The Offer opened on 10 March 2022 and is scheduled to close at 7.00pm (Sydney time) on 11 April 2022, unless extended.

CIMIC’s Independent Board Committee (IBC) will set out its views in relation to the Offer in a Target’s Statement, and has appointed Grant Thornton Corporate Finance Pty Ltd as independent expert to prepare a report that will be attached to the Target’s Statement.

The Target’s Statement (with accompanying Independent Expert’s Report) will be released in the week commencing 28 March 2022, allowing shareholders sufficient time to consider their alternatives and make a decision before the Offer closes.

Due to the coronavirus pandemic and related issues, the Australian Securities and Investments Commission (ASIC) has granted CIMIC relief from the usual requirement under the Corporations Act to send the Target's Statement to CIMIC shareholders by post. This means that when the Target's Statement is released:

  • if you have nominated an email address to receive communications from CIMIC, then you will receive an email to your nominated email address with a link to an electronic copy of the Target's Statement; and
  • if you have not nominated an email address to receive communications from CIMIC, then you will receive a letter from CIMIC to your registered postal address, which will contain details of a link to an electronic copy of the Target's Statement.

CIMIC shareholders may also request a hard copy of the Target's Statement be sent to them (if in Australia, by pre-paid ordinary post or by courier, or, if outside Australia, by pre-paid airmail post or by courier) by contacting the CIMIC information line on 1300 620 408 (within Australia) or +61 3 9415 4639 (outside Australia) between 9:00am and 5:00pm (AEST) Monday to Friday, excluding public holidays.

ASIC has advised that the fact that it has granted this relief in connection with the Offer should not be taken as a reflection of ASIC’s views on any other aspect of the Offer.

CIMIC shareholders do not need to take any action in respect of the Offer at this stage.

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