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Thiess secures control of MACA

Tuesday, October 4th, 2022

Thiess Group Investments has secured 51.83 per cent of the shares in MACA, giving the mining services company effective control.

The result is based on acceptances for Thiess’ unconditional cash takeover offer to acquire all of the ordinary shares of MACA for $1.075 per MACA share, and on market purchases made by Thiess.

The MACA directors have now recommended all remaining MACA shareholders to accept the bid prior to the end of the offer period to avoid the risks of becoming a minority shareholder in a Thiess-controlled entity.

The offer is scheduled to close at 7pm Sydney time on Friday, October 7, unless extended by Thiess.

MACA co-founder Geoff Baker said with the offer recently made unconditional and control having now passed to Thiess, remaining MACA shareholders should accept the offer before it closes.

“Thiess’ offer is compelling, representing an attractive premium to trading prices prior to the announcement of the offer. My fellow founding shareholders and my fellow director have accepted the offer and I encourage all MACA shareholders to do so,” he said.

MACA is one of Australia’s leading diversified contracting groups, with operations spanning across Australia and internationally.

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