23 April 2012 Spotless has provided PEP with a thorough due diligence process in which Spotless adopted a collaborative approach and accommodated extensive PEP requests for information and access to management. Since the closure of the due diligence data room, PEP spent several weeks considering its position and working on securing its financing approvals. Spotless and PEP have been in ongoing dialogue during this period and continue to be in discussions to see whether a proposal could be put to Spotless shareholders which can be recommended by the Spotless Board. These discussions are yet to reach a conclusion. Shareholders should note that there is no certainty that any agreement between Spotless and PEP will be reached as a result of these ongoing discussions. Spotless will continue to advise shareholders in respect to further developments as appropriate. For further information, please contact: Media Tim Duncan / Scott Hinton Hintons T: +61 (0) 3 9600 1979 Investors Rowan Wilkie Spotless Group T: +61 (0) 3 9269 7303 |
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