Proposed Acquisition of Toxfree Solutions

On 11 December 2017, Cleanaway Waste Management Limited (“Cleanaway”) announced that it proposed to acquire Tox Free Solutions Limited by way of a scheme of arrangement (the “Scheme”).

 

Whilst Toxfree’s Board of Directors have unanimously recommended that Toxfree shareholders vote in favour of the proposed Scheme,  it remains subject to a number of conditions. If the Scheme is implemented, it is not expected to come into effect until the second quarter of 2018. The integration of Toxfree’s business into Cleanaway’s existing business is expected to occur over an extended period of time, and may take around two years to complete.

 

With the strong alignment between Cleanaway and Toxfree, the acquisition represents an exciting opportunity for our business, for our people and importantly our customers, allowing us to deliver a more comprehensive range of services, across more communities Australia-wide.

 

Importantly, the integration of Toxfree’s operations will support Cleanaway in accelerating our Footprint 2025 strategy, expanding and enhancing both our capabilities and network.  This includes the introduction of a number of exciting new technologies, growing our national reach and expanding our service offerings to the market.

 

In the meantime, it is business as usual.  Our team remains focused on delivering on our commitments to you and your business, and I commit to keeping you informed as the transaction progresses.

 

Should you have any queries regarding the acquisition or the Scheme, please contact your account manager, or email Toxfree_scheme@cleanaway.com.au.

 

We look forward to continuing to work together to make a sustainable future possible TM.

 

 

Vik Bansal

CEO & Managing Director

 

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