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Nuplex to delist after takeover clearance

NZN 1/09/2016 Tina Morrison

Nuplex Industries has confirmed its takeover by Allnex Belguim SA has received antitrust clearance from the European Commission, paving the way for its transfer into the hands of the private-equity backed Belgian company to create one of the world's largest makers of coating resins.

Nuplex shares will cease trading on the NZX and ASX at the close of trade on Monday, the Auckland-based company said on Friday.

Shareholders owning the stock on the record date of September 7 will receive $5.43 per share, and a dividend payment of 3.15 cents per share due to a delay in receiving EC antitrust approval, the company said.

The shares will be delisted from the NZX and ASX at the close of trading on Tuesday, September 13.

The stock last changed hands at $5.35, having advanced 13 per cent this year.

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