Announcement to NZX – Conditional purchase of a 70% interest in Norman Ellison CarpetsOn 26 September, the Directors of Cavalier Corporation (“Cavalier”) announced that Cavalier had entered into a conditional agreement to purchase a 70% interest in Norman Ellison Carpets. At that time, the Directors advised that the agreement was subject to various operational conditions being fulfilled and to clearance by the Commerce Commission. The Directors are pleased that the proposed acquisition has received clearance from the Commerce Commission but note that a number of operational conditions have yet to be satisfied before the agreement can be declared unconditional. Cavalier expects to be in a position to update the market on the status of these outstanding conditions within the next 10 working days.
Wayne Chung
Managing Director
15 November 2007
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