On 28 April 2017, Tenon announced that it had completed the sale of its last business, its Clearwood business based in Taupo, New Zealand, to Tenon Clearwood Limited Partnership. On that date, Tenon also cancelled one out of every two ordinary shares held by each shareholder, with shareholders being paid either NZ$3.8036 or US$2.6540 (depending on the individual shareholder’s currency election) per each cancelled share.

In accordance with changes to Tenon’s Constitution approved by Tenon shareholders at the Special Meeting held on 20 March 2017, the Board voluntarily appointed McGrath Nicol as liquidators to Tenon on 18 December 2017.  The liquidators have taken control of Tenon.

See previous announcements made by Tenon under the “Investors” tab above for details of the above matters.