Pacific Brands Limited ("Pacific Brands") today announced that the Australian
Securities and Investments Commission has registered the Scheme Booklet in
relation to the proposed acquisition of Pacific Brands by HBI Australia
Acquisition Co. Pty Ltd., a wholly owned subsidiary of Hanesbrands Inc., via
a Scheme of Arrangement ("Scheme").
If the Scheme is approved by the requisite majority of Pacific Brands
shareholders and all other conditions precedent are satisfied or waived
(where capable of waiver), Pacific Brands shareholders will receive total
cash payments of A$1.15 cash per share which are currently expected to
comprise:
- a fully franked special dividend of $0.094 per share, to be paid on the
dividend payment date (currently expected to be on or about Thursday, 7 July
2016); and
- cash consideration under the scheme of $1.056 per share, to be paid on the
implementation date (currently expected to be on or about Friday, 15 July
2016)
A copy of the Scheme Booklet, which includes an Independent Expert''s Report,
a Notice of Scheme Meeting and a copy of the proxy form for the Scheme
Meeting, is attached to this announcement.
Copies of the Scheme Booklet will be sent to Pacific Brands shareholders on
or about Wednesday 25 May 2016 (and those shareholders who have previously
nominated an electronic means of notification to Pacific Brand''s share
registry will receive an email where they can download the Scheme Booklet and
lodge their proxy vote online).
The Pacific Brands Board continues to unanimously recommend that Pacific
Brands shareholders vote in favour of the Scheme at the upcoming Scheme
Meeting to be held on Friday, 24 June 2016.
End CA:00282772 For:PBG Type:S/A Time:2016-05-23 08:31:02