Company News Summary
Spotless Group Holdings Provides Bidder's Statement
Original announcement: DOW: Bidder's Statement
Spotless Group Holdings provided bidder's statement. This Bidder's Statement is dated 21 March 2017 and is given by Downer EDI Services to the Company under Part 6.5 of the Corporations Act. This Bidder's Statement includes an Offer dated 2017 to acquire all of Company's Shares and also sets out certain disclosures required by the Corporations Act. The Offer Price of $1.15 cash per Company's Share represents compelling value for its Shareholders and a substantial premium to trading levels prior to the announcement of the Offer on 21 March 2017. In its 1H2017 results announcement it stated that it had reset its dividend payout ratio to 40% to 60% of Adjusted NPAT.
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