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Australia – Chandler MacLeod shareholders approve acquisition scheme

25 March 2015

Australian recruitment firm Chandler MacLeod (CMG: ASX) today announced that the company’s shareholders voted in favour of the Scheme arrangement that will result in Chandler MacLeod’s acquisition by RGF Staffing Melbourne two, a wholly owned subsidiary of Japanese recruitment juggernaut Recruit Holdings (6098: JP).

Of the Chandler MacLeod shareholders, 97.85% voted in favour of the resolution.

The acquisition value is estimated to be JPY 28.9 billion (USD 241.5 million).

The company has applied to the Federal Court of Australia for approval of the Scheme at a hearing scheduled for 31 March 2015. If approved by the Court, Chandler MacLeod shareholders who hold shares as of 9 April 2015 will receive AUD 0.53 (USD 0.42) cash per share.