High Court Upholds Cavalier Offer For WSI

NEW ZEALAND WOOL SERVICES INTERNATIONAL LIMITED
MEDIA RELEASE

Cavalier Wool Holdings Limited’s authorisation to make an offer for the scouring assets of WSI has been upheld by the High Court. A copy of the reasons for that decision is awaited by WSI.

Cavalier has no current offer before WSI and any offer would need to be subject to shareholder approval. The Chairman of WSI, Derek Kirke stated

“ If an offer is received from Cavalier then the Board would need to consider that offer and decide whether it is appropriate to be placed before shareholders for consideration. It is business as usual for WSI until this possibility develops.”

WSI will keep its shareholders fully informed if any further developments arise and continue to focus on WSI’s business to create value for its shareholders.

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