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Peter Warren Automotive Holdings Limited (ASX:PWR)

ALERT: Price-sensitive ASX Announcement for PWR
Current share price for PWR : $0.963 -0.007 (-0.77%)+
Announcement
Release
2 Jul 2026 9:25AM
Price at Release
$0.970
Full Release
download
Summary
Peter Warren Automotive Holdings Limited is providing an update regarding its acquisition of Wakeling Automotive. The acquisition process involves a share purchase agreement and a business purchase agreement that must be completed together. The transaction is dependent on fulfilling conditions such as obtaining approvals from the ACCC and other third parties. Initially set to complete by 2 May 2026, the deadline has been mutually extended to 2 July 2026 to allow the ACCC's review. Discussions have occurred about the ACCC strategy, leading to the withdrawal of the original application and the proposal to submit a new one. However, Wakeling's vendors have informed Peter Warren that they do not wish to extend the deadline further. Peter Warren remains committed to completing the transaction and will continue to provide updates.
Key Points
  • Peter Warren Automotive Holdings Limited provides an update on the proposed acquisition of Wakeling Automotive.
  • The transaction is governed by a share purchase agreement and a business purchase agreement, which are interdependent and must complete simultaneously.
  • The acquisition is subject to conditions including approvals from the Australian Competition and Consumer Commission (ACCC) and other third-party approvals.
  • The original deadline for fulfilling these conditions, known as the 'Sunset Date,' was extended from 2 May 2026 to 2 July 2026.
  • Discussions have been ongoing with Wakeling's vendors about ACCC strategies, including the withdrawal of the initial application and resubmission of a new application.
  • Wakeling's vendors have agreed to withdraw the initial ACCC application but do not intend to extend the Sunset Date further.
  • Peter Warren Automotive continues to work towards completing the transaction.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.