Summary of the Offer

The Offer Iberdrola Australia is offering to buy all of your Infigen Stapled Securities for A$0.89 cash per Infigen Stapled Security, on the terms set out in this Bidder’s Statement.

You may only accept the Offer in respect of all (and not some) of your infigen stapled securities.
Opening date 29 June 2020
Offer Price The Offer Price is A$0.89 cash per Infigen Stapled Security, on the terms and conditions set out in Section 9 in the Bidder Statement.
The Bidder Iberdrola Australia is a wholly owned Subsidiary of Iberdrola, S.A. a listed Spanish corporation (sociedad anónima) with a market capitalisation of €65.76 billion (A$107.54 billion)1 which was incorporated in the Kingdom of Spain in 1901 and is currently one of the world’s leading private electricity groups (the number one producer of wind power) in terms of market capitalisation and the number of customers it serves.

For more information about Iberdrola Australia, please refer to Section 2 in the Bidder Statement
Closing date The Offer is open for acceptance from the Offer Date until 7:00 pm (Sydney time) on 30 July 2020, unless extended or withdrawn.
Conditions to the Offer The Offer is subject to the Conditions, which are set out in full in section 9.7 in the Bidder Statement. the Conditions include:
  • Minimum Acceptance Condition;
  • FIRB Condition.
The status of each of the Conditions as at the date of this Bidder’s statement is discussed in section 8.4(b) in the Bidder Statement.
Expected date of payment to Infigen Securityholders
who accept the Offer
If the Offer becomes or is declared unconditional, Infigen Securityholders who accept the Offer will receive their cash consideration on or before the earlier of:
  • one month after the Offer is accepted or, if the Offer is subject to a Condition, within one month after the Offer becomes or is declared unconditional; and
  • 21 days after the end of the Offer Period.
Full details of when you will be paid are set out in section 9.9 in the Bidder Statement.

1 Conversion based on an AUD/EUR exchange rate of 1.6353, being the last close price on Bloomberg on 19 June 2020.