The New Zealand Wine Company

The New Zealand Wine Company Limited – Completion of the Merger with Foley Family Wines and Company Name Change

The New Zealand Wine Company Limited (NWC) Chairman, Mr Alton Jamieson, announced today that:
 
1)       The Merger of NWC with Foley Family Wines NZ Limited (FNZ) is now unconditional and was formally completed on 4 September 2012 in accordance with NWC shareholder approvals. (NWC shareholders voted 99.99% in favour of the Merger at a Special Meeting of Shareholders in Blenheim on 14 August 2012.)
 
2)       NWC has satisfied its commitment to the ANZ National Bank today by repaying $5.0 million of Bank debt.
 
3)       Mark Turnbull has been appointed NWC CEO, effective 4 September 2012.
 
4)       The members of NWC’s Board of Directors will change effective 4 September 2012, as follows;
 
·         Alton Jamieson continues as a Director
·         David Appleby and Bill Wallace have resigned as Directors
·         Bill Foley, Mark Turnbull and Tony Anselmi have been appointed as Directors
 
5)       Directors have resolved to change the name of The New Zealand Wine Company Limited, effective from 4 September 2012 to Foley Family Wines Limited.
 
6)       Directors have resolved, subject to the requirements of the Companies Act 1993, that a proposal be approved whereby FNZ and Foley Family Wines Limited amalgamate, with the name of the amalgamated company being Foley Family Wines Limited.
 
7)       The NZX NZAX Ticker Code of NWC will be changed from 11 September 2012 to FFW. 
 
Alton Jamieson said:
 
“With the Merger formalities completed we will proceed to integrate the operations of NWC with those of FNZ under the new NZAX listed company name of Foley Family Wines Limited. The key focus for the balance of the June 2013 financial year will be to work to achieve the objectives of the enlarged business and Directors will provide an update to shareholders at the 15 November 2012 AGM.”
 
Bill Foley said:
 
"Having Foley Family Wines New Zealand listed on the NZ Stock exchange is a significant step for us.”
 
 
Authorised for public release.
 
For further information please contact:
 
Alton Jamieson                                                           Mark Turnbull
Chairman                                                                     CEO
The New Zealand Wine Company Limited             The New Zealand Wine Company Limited
PO Box 67, Renwick, Marlborough                         PO Box 67, Renwick, Marlborough
Telephone number: 021 964 995                            Telephone number: 021 714 885
EMail address: alton_jamieson@xtra.co.nz        E Mail address: mark@ffwnz.com
Web site address: www.nzwineco.co.nz                Web site address: www.nzwineco.co.nz