Brief: Tourism Holdings Agrees Merger Terms With Apollo Tourism & Leisure

Tourism Holdings

09/12/2021 21:34

Dec 10 (Reuters) - Tourism Holdings Ltd  THL.NZ :
    * AGREES MERGER TERMS WITH APOLLO TOURISM & LEISURE
    * MERGER WILL RESULT IN ATL SHAREHOLDERS OWNING
APPROXIMATELY 25%
AND THL SHAREHOLDERS OWNING 75% OF THL
    * ANTICIPATED COST OUT SYNERGIES ARE EXPECTED TO DELIVER A
STEADY-STATE EBIT BENEFIT OF NZ$17M TO NZ$19M PER ANNUM
    * CONSIDERATION IS PAYABLE BY THL ISSUING 1 NEW FULLY PAID
THL
SHARE FOR EVERY ABOUT 3.68 SHARES HELD BY APOLLO SHAREHOLDERS
    * THL WILL APPLY TO BE DUAL LISTED ON THE AUSTRALIAN
SECURITIES
EXCHANGE THROUGH A FOREIGN-EXEMPT LISTING
    * WILL ISSUE 1 NEW ORDINARY THL SHARE FOR EVERY 3.68
ORDINARY ATL
SHARES HELD
    * POST-MERGER OWNERSHIP RATIO OF ABOUT 25% TO APOLLO
SHAREHOLDERS
AND ABOUT 75% TO THL SHAREHOLDERS
    * TRANSACTION IS SUBJECT TO APPROVAL OF APOLLO SHAREHOLDERS,
OTHER
APPROVALS

Further company coverage:  THL.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))