Announcement
GENERAL: SCL: Polarcold sale - condition date extension
08:35am
SCL
07/02/2019 08:35
GENERAL
NOT PRICE SENSITIVE
REL: 0835 HRS Scales Corporation Limited
GENERAL: SCL: Polarcold sale - condition date extension
7 February 2019
Polarcold sale - condition date extension
As previously advised to the market, Scales sold its coldstorage businesses
(Polarcold Stores Limited and Whakatu Coldstores Limited) to Emergent Cold on
9 May 2018, subject to the sole condition of Overseas Investment Office (OIO)
approval.
The sale agreement required that this condition be met by 9 February 2019.
Given that the process of obtaining OIO approval remains ongoing, Scales and
Emergent Cold have agreed to extend the condition date, from 9 February 2019
to 31 May 2019.
Contact:
Steve Kennelly
Chief Financial Officer
Scales Corporation Limited
+64 3 371 2263 / +64 274 317587
About Scales Corporation
Scales Corporation is a diversified agribusiness group. It comprises three
operating divisions: Horticulture, Storage & Logistics and Food Ingredients.
The company's diverse spread of activities gives Scales broad exposure to New
Zealand's agribusiness sector. Scales was founded in 1897 as a shipping
business by George Herbert Scales. Today it employs more than 700 staff New
Zealand wide. Find out more at www.scalescorporation.co.nz
End CA:00330255 For:SCL Type:GENERAL Time:2019-02-07 08:35:39
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