NRW Holdings (ASX:NWH) has announced the completion of the acquisition of BGC Contracting Pty Ltd.
NRW Managing Director Jules Pemberton welcomed the completion of the transaction, along with the 2300 strong workforce from BGC Contracting who join NRW today.
“We look forward to leveraging our many years of combined experience, to position NRW as a provider of choice across the sectors in which we operate,” Mr Pemberton said.
“With the broader capabilities acquired through BGC Contracting, NRW has built a stronger platform that differentiates us from our competitors and allows us to meet the evolving needs of clients in the future.”
BGC Contracting Pty Ltd – Name Change
As part of completion process the BGC Contracting Pty Ltd entity will been renamed to NRW Contracting Pty Ltd in accordance with the terms of the sale agreement. The Australian business number (ABN) of 88 008 766 407 remains unchanged.
The DIAB Engineering business which will continue to operate under its existing name and ABN.
Share Purchase Plan
On the 28 November 2019, the Directors of NRW announced an offer for eligible shareholders to participate in a Share Purchase Plan (SPP) to be capped at $10 million. Under the SPP eligible shareholders can acquire up to A$15,000 worth of new fully paid ordinary shares at $2.85 per share in the Company without paying any brokerage or other charges.
Further details of the SPP were provided in the SPP Offer Booklet, which was sent to eligible shareholders on 6 December 2019.
As outlined in the SPP Offer Booklet, NRW reserves the right (at its absolute discretion) to scale back applications and excess funds will be returned to applicants without interest.
The offer to participate in the SPP will remain open until 5pm (AEST) on 2 January 2020.
