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Goodman Fielder board exits following takeover

The Scheme of Arrangement under which Wilmar International Limited and First Pacific Company Limited will acquire 100 percent of Goodman Fielder has been implemented.

Wilmar and First Pacific, through 50:50 jointly owned entities, now hold all of the shares in Goodman Fielder. Eligible Goodman Fielder shareholders who held shares on the Scheme Record Date (10 March 2015) will be sent the Scheme Consideration of A$0.675 cash per share today (or as soon as practicable thereafter).

The resignation of Steven Gregg, Chris Delaney, Ian Cornell, Jan Dawson, Chris Froggatt, Peter Hearl, Clive Hooke and Ian Johnston from the Board of Goodman Fielder took effect from implementation.

Robin Nicholson, Kuok Khoon Hong, Scott Weitemeyer, and Graham Pickles have been appointed to the Board of Goodman Fielder with effect from implementation. Nicholson has been appointed Chairman.

“This final step in the process completes First Pacific and Wilmar’s acquisition of Goodman Fielder and we look forward to working with the business to implement our transition plans and growth agenda,” Nicholson said.

“As part of this we would like to announce that Scott Weitemeyer will be appointed managing director and chief executive officer of Goodman Fielder, replacing Chris Delaney.

“Scott will work with the dedicated team at Goodman Fielder to begin building a leading Asia Pacific consumer foods business,” Nicholson said.

Goodman Fielder expects to be delisted from the ASX and NZX on Thursday, 19 March 2015.

The takeover was approved by shareholders in February.

Goodman Fielder owns brands such as Helga’s, Mighty Soft, White Wings, Praise and MeadowLea.

 

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