EBOS Shareholders Support $1.1b Symbion Acquisition

EBOS Shareholders Overwhelmingly Support $1.1b Symbion Acquisition

14 June 2013

EBOS Group Limited (NZX: EBO) shareholders today voted overwhelmingly in favour of the $1.1 billion (enterprise value) acquisition of Symbion.

All six resolutions were passed at a Special Meeting of shareholders held in Christchurch today, paving the way for EBOS to become a leading Australasian business with pro-forma FY13 revenue in excess of $6 billion.

EBOS Managing Director Mark Waller said: “This was a fantastic endorsement from our shareholders of what is one of the largest transactions in New Zealand in recent times. Their support gives us the green light to proceed with this outstanding opportunity to bring together two complementary market leading businesses.”

“From today it transforms us into the largest diversified Australasian marketer, wholesaler and distributor of healthcare, medical and pharmaceutical products by revenue and a leading Australasian animal care products marketer, wholesaler and distributor. Whilst combined revenue is initially expected to be $6 billion, looking forward, the increased scale and complementary nature of both businesses is expected to open up additional revenue opportunities and operational efficiencies.”

A prospectus will be sent to all EBOS shareholders registered at 5pm today detailing a fully underwritten pro-rata renounceable rights issue to raise $149 million. It was a matter of priority for the EBOS Board that all existing shareholders should have the opportunity to participate in the funding of the Symbion acquisition on an equitable basis. The Board of EBOS urges shareholders to either take up their entitlements for new shares or to sell their entitlements. To do nothing will likely mean a loss of value to shareholders.

The transaction settlement is expected to take place on or about 5 July 2013.

EBOS Chairman Rick Christie welcomed the appointment to the board of two Zuellig nominated Directors, Peter Williams and Stuart McGregor.

“The EBOS Board will benefit from the addition of these new Zuellig director representatives providing a wealth of experience in the Australian and international healthcare markets.”

ENDS

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