26 February 2019

ASX RELEASE

Update on Proposed Acquisition of Methven - New Zealand

Overseas Investment Office Approval

GWA Group Limited ("GWA") is pleased to advise that it has today received New Zealand Overseas Investment Office consent under the New Zealand Overseas Investment Act for one of its wholly owned subsidiaries to acquire all of the shares in Methven Limited under the proposed scheme of arrangement (the "Scheme").

GWA expects implementation of the Scheme to occur on or around 10 April 2019, following the Special Meeting of Methven Shareholders and the Final Court Hearing. The key dates in relation to the Scheme are set out in the table below. The Scheme remains subject to various other conditions, including approval by Methven Shareholders at the Special Meeting and approval by the New Zealand High Court at the Final Court Hearing.

GWA will continue to keep shareholders updated in relation to material developments relating to the Scheme.

Date (2019)

Event

12 March

Special Meeting of Methven shareholders to vote on the Scheme

27 March*

Final Court Hearing to approve the Scheme

10 April*

Scheme Implementation Date

*Dates above are indicative only and, among other things, are subject to obtaining all necessary approvals from Methven shareholders and the High Court.

For further information call:

Martin Cole

Patrick Gibson

Capital Markets Communications

GWA Group Ltd

+61 (0)403 332 977

+61 (0)2 8825 4403

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GWA Group Limited published this content on 26 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 February 2019 00:37:05 UTC