Chapman Tripp partner Roger Wallis, and solicitor Renee Holmes, acted for Provenco Group on its NZ$80 million merger with Cadmus Technology by amalgamation, to create ProvencoCadmus, a significant New Zealand technology company with a global focus. ProvencoCadmus is listed on the New Zealand stock market (as were both merging companies).
Chapman Tripp partners Dermot Ross and Derek Parker advised ProvencoCadmus on new banking facilities with ANZ National Bank.
ProvencoCadmus designs, builds, distributes and services some of the world's most innovative payment and transaction solutions.
ProvencoCadmus chairman, Rick Christie says that the new merged company will benefit from increased scale, operational and marketing synergies, an expanded product and solution portfolio, and a strong group of committed cornerstone shareholders.
Implementation of the merger required satisfaction of a number of conditions, including shareholder approval of both companies, Commerce Act clearance, consent from both companies’ trustee for capital note holders, and confirmation of continued bank facilities from ANZ National Bank. A full prospectus and investment statement was required to be prepared for the merged company.
Roger Wallis said “We were pleased to be able to assist ProvencoCadmus to navigate these conditions to a successful conclusion, despite the credit crunch and other trading pressures faced by both companies.”
Mayne Wetherell partner Michael Harrod, and solicitor Rachel Dunne, acted for Cadmus on the merger.