Terms of the deal include placement of 10 million shares at NZ$1.39 to provide the capital Scott needs. Shareholders of Scott who want to reduce or sell all their shares would receive an offer price of NZ$1.39 per share. Shareholders who don’t want to sell or would like to increase their shares would receive a 1-for-8 non-renounceable rights issue at the same price. The offering represents NZ$63 million ($42 million).
The deal is subject to government regulatory authorities.