Calibre Board progresses strategic review
The Calibre Group Limited (“Calibre”) Board has noted recent media speculation in relation to the intended exit of its major shareholder, First Reserve. In conjunction with that planned exit of First Reserve, the Calibre Board has conducted a strategic review of the business with a view to pursuing those planned options that optimise value for all shareholders.
Unsurprisingly, given the quality of the Calibre business and the growth opportunities in front of it, Calibre has received various confidential approaches regarding recapitalisation options as well as sales of its constituent business(es). The business has engaged PwC to manage interest from parties in a proactive and structured manner in order to analyse and assess strategic options for the Group.
Calibre is considering these various alternatives and their potential to deliver incremental shareholder value.
Whilst the Board notes that currently there is no certainty of a specific path, Calibre intends to keep shareholders updated as appropriate. The Low Volume Financial Market for Calibre securities will be suspended whilst the confidential discussions continue.
We trust that all shareholders will remain patient whilst the Board actively pursues its options and will endeavour to update all shareholders as specific plans are advanced.
INVESTOR AND MEDIA CONTACT:
Group Chief Financial Officer
Calibre Group Limited
email@example.com | +61 422 009 143