Friday, 29 March 2024

Announcement

GENERAL: HBY: Hellaby - Equipment Sale Unconditional

23 Sep 2016 09:00NZX
Hellaby Holdings Limited - NZX / Media Release 23 September 2016

Hellaby - Equipment Sale Unconditional

Hellaby Holdings Limited (NZX: HBY) advises that the sale of its Equipment
Group to Maui Capital''s Aqua Fund for $81 million, is now unconditional.

Settlement is scheduled to occur on 30 September 2016.

Hellaby has identified Automotive and Resource Services as its core business
Groups, and in the past six months, has announced the acquisition of Premier
Auto Trade (PAT) in Australia for the Automotive Group; and TBS Group in New
Zealand as part of the Resource Services Group.

Footwear remains non-core and is currently being restructured, with
profitability expected to improve over time.

Hellaby CEO, Alan Clarke, said: "We now have a clear focus on our two core
business Groups, where we have identified a number of opportunities to add
scale through both organic expansion and acquisition.

"The majority of the proceeds from the sale of the Equipment Group will
effectively fund the acquisition of the TBS Group, and we have several other
investments that we are actively considering.

"We are committed to delivering an improved performance through the
successful execution of our strategic priorities and our committed long term
focus on our core Groups."

ENDS

For further information please contact

Alan Clarke
Chief Executive Officer & Managing Director
T +64 9 306 7406
M +64 21 368 818
E alan@hellabyholdings.co.nz

Richard Jolly
Chief Financial Officer
T +64 9 307 6844
M +64 27 497 6710
E richard@hellabyholdings.co.nz

www.hellabyholdings.co.nz

Hellaby at a glance

Hellaby Holdings (NZX: HBY) is a long term committed business owner with a
focus on businesses that provide innovative solutions in specialised
industrial services sectors.

Our goal is to be a leading Australasian investment opportunity, based on the
value we add to our portfolio, the returns we deliver to our shareholders and
the calibre of our people.

Hellaby''s core purpose is to generate long-term shareholder value by building
better businesses. We achieve this through a combination of performance
improvement and organic growth in the businesses we own, as well as smart
acquisitions and divestments.

We have identified the Automotive and Resource Services sectors as our core
focus, and also operate businesses in the Footwear market, which we have
identified as non-core. Our 3,000 people span New Zealand, Australia, the
Middle East and the Americas.

We have a decentralised business model, with Hellaby''s head office providing
strategic oversight and support for each business'' talented and experienced
business and technical teams.
End CA:00289619 For:HBY    Type:GENERAL    Time:2016-09-23 09:00:27
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