SEVEN GROUP HOLDINGS LIMITED
24 December 2014 - The Supreme Court of New South Wales today granted the court order required to implement the deed of company arrangement (DOCA) proposal, under which a subsidiary of Seven Group Holdings Limited (ASX:SVW) will acquire Nexus Energy Limited (subject to deed of company arrangement) (ASX:NXS) (Nexus), and the debts of Nexus will be compromised. ASIC has also formally granted the relief required under the Corporations Act with respect to the DOCA.
This means that all conditions precedent have now been satisfied, and the DOCA, including the acquisition of
Nexus by SGH, will be implemented shortly.
SGH is a leading Australian diversified operating and investment group with market leading businesses in industrial services and media. In industrial services, WesTrac Group is the sole authorised Caterpillar dealer in Western Australia, New South Wales and the Australian Capital Territory in Australia, and in North Eastern China territories. WesTrac Group is one of Caterpillar's top five dealers globally (by sales value). SGH also
owns AllightSykes, a supplier of lighting towers, generators and pumps, and has a 45 per cent shareholding in Coates Hire, Australia's largest equipment hire business. In media, SGH has a 35.3 per cent shareholding (and additional convertible interest) in Seven West Media, Australia's largest multiple platform media
company, including Seven Network, West Australian Newspapers, Pacific Magazines and Yahoo!7.
Richard Richards
+61 2 8777 7170
38-42 Pirrama Road | Pyrmont NSW 2009 Australia | Postal Address: PO Box 777 | Pyrmont NSW 2009 Australia
Telephone +61 2 8777 7777 | Facsimile +61 2 8777 7192
|
distributed by
|
