Hanover Active Equity Fund

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Acquisition of Hydro International for £28.0m

On 17 June 2016, Hanover and Hydro announced that they had reached agreement on a recommended cash offer for the shares not already owned by Hanover, valuing the share capital of Hydro at £28.0m.

Hydro is a global supplier of environmentally sustainable products and innovative solutions for the control and treatment of stormwater, wastewater and combined sewer overflows.

Prior to the announcement of the recommended offer, Hanover held 17.7 % of the share capital of Hydro International.

Panmure Gordon Role:  Panmure Gordon acted as financial adviser and broker to Hanover

www.hanoverinvestors.com

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