thl acquires remaining 51% interest in Just go Motorhomes

Wednesday 5th October 2022

thl advises that it has acquired the remaining 51% interest in its UK joint venture, Just go Motorhomes, from joint venture partners Nick and Sarah Roach for a purchase price of £5,355,000 (or approximately NZ$10,700,000).

Grant Webster, thl CEO, said “we are excited for Just go to become a wholly owned subsidiary and to retain Nick Roach to lead the business in his role as CEO. The timing for this transaction is right, particularly given the proposed merger with Apollo which also has a UK business. The UK market has experienced a strong recovery following the pandemic and we believe that there are future growth opportunities.”

The purchase price was satisfied through a cash payment of £1,350,000 and the issue of new ordinary shares in thl to the value of £4,005,000. The issue price per share was $2.618, being the 90 day volume weighted average price to 31 August 2022 for ordinary shares in thl.

The transaction signed and completed on 4 October and 2,941,857 new ordinary shares in thl were issued.

ENDS

NZX Release - thl acquires remaining 51% interest in Just go Motorhomes

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