Premier announces conditional takeover offer for Just Group

07 Apr '08

3 min read

- The nature of your investment will change if the Premier offer proceeds
If you accept Premier's offer and it proceeds, the nature of your investment exposure will change. A thorough review of Premier's offer, including the consequences of any change to the nature of your current investment by accepting shares in Premier, will be included in Just Group's Target's Statement and Lonergan Edwards' independent expert's report.

- Just Group has taken steps to ensure the independence of Just Group's response
Just Group has formed a special board committee to assess and consider Premier's offer. The two directors who recently joined the Just Group board as nominees of Premier's major shareholder will not be included in any board matters related to Premier's offer and therefore have been excluded from the special board committee.

Premier's announcement on 31 March 2008 included an invitation for me to join Premier's board if it gained full control of Just Group. As your Chairman and in the interest of ensuring the independence of Just Group's process for reviewing Premier's offer, I have announced that I will not join Premier's board.

In addition to appointing Lonergan Edwards as the independent expert, Just Group has appointed Caliburn Partnership as financial adviser and Freehills as legal adviser to assist Just Group in evaluating and responding to Premier's offer.

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