KEY POINTS:
A takeover bid for cosmetic appearance company The Caci Group has succeeded, with founders David and Jackie Smith now having acceptances for more than 90 per cent of the shares and entitled to compulsorily acquire the rest.
The Smiths launched the takeover bid a month ago, offering 38c per share through their investment vehicle Cosmedex Investments, after niggles about the worth of being a listed company.
At the time they controlled 58 per cent of Caci and had pre-bid acceptances from 85 per cent of shareholders, including themselves.
Mr Smith is the Caci Group's managing director.
In a notice to the sharemarket today, Cosmedex said it had now received acceptances from the owners of 6.1 million Caci shares, 90.1 per cent of the company.
With the offer declared unconditional, Cosmedex was entitled to compulsorily acquire the remaining 9.9 per cent of shares, and intended to do so as soon as practicable.
The offer valued Caci at $2.58 million.
Meanwhile, the Caci board said indications were that profit before tax for the year to the end of March would be $150,000.
The indicative full-year profit included a capital profit of $105,000 from the sale of the Christchurch Caci Clinic, the company said.
It also included several year-end adjustments that the board regarded as extraordinary or matters from previous years.
Various items of equipment, one stock line, and some intellectual property had been written off, with the total write-off being $208,000.
The year was exceptional in terms of the number of new franchise sales made, Caci said.
The indicative result included franchise fees from the sale of six new franchise territories, and also equipment licence fees from the opening of four new Caci Clinics
- NZPA
