Friday, 29 March 2024

Announcement

DIRECTOR: HBY: Hellaby Announces Board Changes

23 Jan 2017 14:03NZX
Hellaby Holdings Limited
NZX / Media Release 23 January 2017

Hellaby Announces Board Changes

Hellaby Holdings Limited (NZX:HBY) has today advised of changes to the Board,
with the resignation of three directors and the appointment of four new
directors, all of whom are nominees of Bapcor Finance Pty Limited which is
now the majority shareholder in Hellaby Holdings.

Hellaby Directors Mark Cowsill, Gary Mollard and James Sclater have all
tendered their resignations, effective immediately. Steve Smith and Paul
Byrnes have agreed to remain as Independent Directors on the Board until the
takeover offer closes, at which time Hellaby''s Board membership and structure
will be reviewed. Alan Clarke will remain as Managing Director and CEO to
assist with the transition to Bapcor''s ownership.

Outgoing Chairman Steve Smith said "I would like to recognise and thank the
retiring directors for their considerable effort and commitment to Hellaby
over a number of years, during which Hellaby improved its trading
performance, modified its strategy and portfolio of businesses, and added
considerable value for Hellaby shareholders."

Bapcor has nominated four new directors to the Hellaby Board. Darryl
Abotomey, Managing Director and Chief Executive Officer of Bapcor Limited,
has been appointed Chairman of the Hellaby Board. Other appointees are Bapcor
Chief Financial Officer, Gregory Fox; Bapcor General Manager - Strategic
Business Development, Mathew Cooper; and Margaret Haseltine, an independent
director on the Bapcor board.

The changes follow Bapcor becoming the majority shareholder in Hellaby
Holdings, after it received acceptances for more than 50% of the shares on
issue in Hellaby and declared its takeover offer unconditional. Hellaby''s
Independent Directors have now recommended that shareholders accept the
offer. All Hellaby directors and senior management now intend to accept the
offer.

Bapcor has extended the offer close date to 7 February 2017 and shareholders
are advised to act promptly to ensure acceptances are received before the end
of the offer period.  Bapcor have now received acceptances for 78.4% of
Hellaby''s shares. Shareholders are encouraged to seek professional investment
and/or legal advice if they have any questions in respect of the offer.

ENDS

For further information, please contact

Darryl Abotomey
Chairman
T +61 419 838 059
E darryla@bapcor.com.au

Steve Smith
Independent Director
M +64 21 791 342
E steve.smith@unisoncapital.co.nz

www.hellabyholdings.co.nz
End CA:00295867 For:HBY    Type:DIRECTOR   Time:2017-01-23 14:03:38
Views: 76
Hellaby Holdings Ordinary Shares
 3.570 Change:
0.00
0.00%
 
Open:3.570 
High:3.570 
Low:3.570 
Volume:0 
Last Traded:08/03/17 00:19:05 
Bid:3.570 
Ask:3.570 
52-Wk High:3.590 
52-Wk Low:2.450