Opus International Consultants : Shareholders presented with increased Offer

13 September 2017

Opus International Consultants Limited (Opus) has today agreed with WSP NZ Acquisition Limited (WSP) a variation of WSP's takeover offer in respect of Opus shares.

As varied, the effective Offer price available to shareholders is increased to $1.92 in cash per share. The $1.92 price is made up of $1.78 from WSP and $0.14 from a dividend paid by Opus. Only shareholders holding shares on the record date for the dividend (28 September 2017) will receive the $0.14 per share dividend payment.

Although the formal variation provided that WSP increased its Offer price to $1.85 per share, under the existing terms of the Offer, the Offer price payable is reduced to reflect any additional dividend paid in excess of $0.07 per share. The net result is that WSP will pay the $1.78 referred to above.

This revised price (including dividend) of $1.92 represents a 94% premium to the last trading price prior to receiving the WSP Takeover Notice, and the Independent Directors unanimously recommend that all Opus shareholders accept the Offer.

Alan Isaac, Chair of the Opus subcommittee of Independent Directors, says: 'We are pleased with the revised offer and, on behalf of Opus' Independent Directors, I wish to acknowledge the constructive engagement we have had with WSP to reach this position.'

Opus shareholders will be sent a copy of the Target Company Statement in the next few days, including the Independent Adviser's Report prepared by KordaMentha.

'WSP has an outstanding reputation in the global marketplace and will provide access to an even wider range of expertise, knowledge and resource for Opus employees, our valued clients and best practice for current and future projects,' says Mr Isaac.

Opus shareholders will have until the 27 of November 2017 to accept WSP's increased Offer (unless the offer is extended by WSP in accordance with the Takeovers Code). Further information relating to the revised WSP Offer is available athttps://www.nzx.com/companies/OIC.

For further details of the revised offerNZX Announcement

ENDS

For further information please contact:
Angela Hayes, Opus External Communications Manager
[e-mail], 021 575 631

Notes to Editor
Headquartered in Wellington, Opus International Consultants is a global infrastructure development and services company with more than 35 offices across New Zealand, the UK, Australia and North America. www.opus.co.nz