Thiess offer

Thiess announces recommended all-cash takeover offer for MACA

Thiess announces a recommended off-market takeover Offer to acquire 100% of the shares in MACA
Offer Price of A$1.025¹ per MACA share, to be paid 100% in cash, representing a 42.2% premium to the MACA one month VWAP as at 25 July 2022
MACA’s Board unanimously recommends that MACA shareholders accept the Offer in the absence of a superior proposal and subject to an independent expert concluding, and continuing to conclude, that the Offer is favourable to MACA shareholders
The all-cash Offer provides MACA shareholders with an opportunity to realise certain value for all their MACA shares, with no brokerage fees
The Offer is only subject to limited conditions, including FIRB approval, no objection by the ACCC, no Prescribed Occurrences, no issue of convertible securities, derivatives or other rights, and 90% minimum acceptances
Thiess intends to operate MACA in materially the same manner supported by MACA’s workforce, brand and assets, and to continue its highly regarded community partnerships.

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¹The Offer Price of $1.025 per MACA share is subject to the Offer terms outlined in the Bidder’s Statement. The Offer Price will be reduced by the amount or value of any ‘Rights’ attaching to the MACA shares in respect of which the Offer is accepted, which arise or are paid on or after the Announcement Date, which the Bidder does not receive (noting that a Right include a dividend but does not include any attaching franking credit). See section 9.8 of the Bidder’s Statement for further details regarding the treatment of dividends and other entitlements.