Wednesday 21st June 2023
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Auckland 21 June 2023: On 17 May 2023, Good Spirits Hospitality Limited (NZX: GSH ) announced that it had agreed to further amend its term loan agreement ("Facility Agreement") with Pacific Dawn Limited. In that announcement, GSH advised that these amendments were conditional on GSH obtaining a waiver from NZX Listing Rule 5.2.1, or the approval of its shareholders.
GSH is pleased to announce that NZ RegCo has granted GSH a waiver from the requirement to obtain shareholder approval under NZX Listing Rule 5.2.1 in respect of entry into the amendments to the Facility Agreement. Details of the waiver are published in a separate announcement. The terms of the agreed amendments are published in the 17 May 2023 announcement.
GSH advised on 21 December 2022 that, following a strategic review conducted by transaction advisor Tonnant Partners, the Board of GSH decided to pursue a sale of the assets of GSH and its subsidiaries ("Transaction"). GSH advises that Stage 2 due diligence for the Transaction has commenced and is progressing well. GSH is currently in discussions with a number of potential purchasers and expects to receive final bids shortly. GSH will keep the market updated as the Transaction progresses.
For further information, contact:
Good Spirits Hospitality Limited
About Good Spirits Hospitality Limited: Good Spirits Hospitality is a NZX Main Board-listed investment company focusing in the Hospitality sector (NZX: GSH ). Good Spirits Hospitality Limited owns and operates hospitality venues in New Zealand’s North Island, providing places to connect with others and world class standards to provide lasting and memorable experiences to our guests and customers.
Good People * Good Times * Good Spirits
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