Nuplex : Special Meeting Result

Microsoft Word - (070716)MeetingResults.docx

NZX/ASX/Media release 7 July 2016

Nuplex shareholders vote in favour of Scheme Arrangement

Nuplex Industries Limited (NZX/ASX: NPX) shareholders today voted in favour of the proposal from Allnex New Zealand Limited (Allnex) to acquire all the shares in Nuplex via a Scheme of Arrangement.

Voting results

Nuplex advises that the resolution to approve the Scheme was passed by the requisite majorities of shareholders.

The results of the poll were as follows:

FOR	AGAINST	ABSTAIN
Votes	145,069,702	2,854,328	98,978
% of votes cast	98.07	1.93	Not applicable
% of total number of shares on issue	76.92	1.51	0.05

Timetable

Following shareholder approval, Nuplex will apply to the New Zealand High Court for approval of the Scheme. A hearing on 21 July 2016 has been scheduled.

The Scheme also requires anti-trust approval in Europe before the Scheme can be implemented. As advised on 3 July 2016, the application for clearance is progressing and Allnex expects it to be received in early August 2016. This would enable the Scheme to be implemented in mid to late August 2016.

The below timetable shows the indicative timing of the Scheme process from here. Nuplex will provide an updated timetable once exact dates are known.

Table 1: Indicative scheme timetable

Event	Timing
NZ High Court Second Court Date	21 July 2016
Allnex to receive EU anti-trust clearance	Early August 2016
Last day of trading in Nuplex Shares	Mid to late August 2016
Scheme Record Date	Mid to late August 2016
Implementation & Payment Date	Mid to late August 2016
The final date the Scheme can be implemented unless agreed by the parties	9 November 2016

Ends

For more information regarding Nuplex

Investors	New Zealand media	Australian media
Josie Ashton, Nuplex	Louisa Jones, Porter Novelli	Paula Hannaford, Kreab
[phone]	[phone]	[phone]
[e-mail]	[e-mail]	[e-mail]

For more information regarding Allnex

Company enquiries	New Zealand media	Australian media
Stéphanie Heng, Allnex	Jane Sweeney, Anthem	Anthony Tregoning, FCR
[phone]	[phone]	[phone]
[e-mail]	[e-mail]	[e-mail]

About Nuplex

Nuplex is a leading, global manufacturer of resins used in paints, coatings and structural materials with annual sales of c.NZ$1.5 billion (c.US$1 billion). Listed on the NZX and the ASX, Nuplex is a global leader in rheology control coatings technology, as well as performance and industrial coating resins, particularly for Automotive OEM, Vehicle Re-finish, Wood, and Protective coatings. From its 16 production sites located across Asia, Europe, America and Australia and New Zealand, Nuplex has customers in over 80 countries worldwide. Through its global R&D network of local technical service support, regional R&D centers and a dedicated Innovation Centre in The Netherlands, Nuplex works in partnership with its customers to develop the right solution for their coatings challenges.

About Allnex

Allnex, formerly Cytec Industries' Coating Resins business and acquired by Advent in 2013 for US$1.15 billion, with sales of c. US$1.5 billion, is a leading global producer of coating resins and additives for architectural, industrial, protective, automotive and special purpose coatings and inks. Allnex is recognized as a specialty chemicals pioneer and offers an extensive range of products including innovative liquid resins & additives, radiation cured and powder coating resins & additives and cross linkers for use on wood, metal, plastic, and other surfaces. Today, Allnex has EBITDA of about US$220 million and has a strong global presence with 17 manufacturing sites and 12 research & technology support facilities throughout the world, focusing on assisting its c.3,000 customers to rapidly bring advanced coating solutions to market.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity firms and a leading investor in the global Chemicals industry. Advent's investment philosophy is centred around supporting leading management teams and providing resources for further growth, in order to execute on a mutually developed strategy and investment case. To date, Advent has raised cumulative capital of c.US$40 billion, and has executed over 310 transactions including over 30 investments in the Chemicals industry. Advent has a strong track record of making significant and successful investments, with recent chemicals transactions including Allnex (formerly Cytec Industries' Coating Resins business), Oxea, Maxam and Grupo Transmerquim. Advent also has extensive experience in conducting Public-to-Private transactions, with recent examples including Douglas, Mediq and Unit 4.