Hometown Offer

Gateway Lifestyle Group (ASX:GTY) released its Target’s Statement on 20 August 2018 responding to the off-market takeover offer by Hometown Australia to acquire all the securities in Gateway Lifestyle Group for $2.25 per security (the Hometown Offer).

A copy of Gateway Lifestyle’s Target’s Statement is available here and includes an Independent Expert’s Report prepared by Grant Samuel (the Independent Expert). The Independent Expert has concluded that the Hometown Offer is fair and reasonable to non-associated securityholders.

On 12 September 2018 the Gateway Lifestyle Board unanimously recommended that Gateway Lifestyle securityholders accept the Hometown Offer as soon as reasonably practicable, in the absence of a superior proposal.

The Gateway Lifestyle Board advises that it has received no further approaches or proposals to acquire Gateway Lifestyle Group and that the Hometown Offer is the only offer available to Gateway securityholders.

The Gateway Lifestyle Board encourages securityholders to read the Target’s Statement and the Bidder’s Statement in conjunction with Hometown’s First and Second Supplementary Bidder’s Statement and Gateway Lifestyle’s First Supplementary Target’s Statement.

If you have any questions, please contact the Securityholder Information Line on 1300 153 327 (within Australia) or +61 3 9415 4127 (outside Australia) between 8.30am and 5.30pm (Sydney time) Monday to Friday.

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