Contact completes Simply Energy ownership deal

1 September 2020
Media release


Contact completes Simply Energy ownership
deal

Contact Energy (‘Contact’) is now the 100 per cent owner of Simply Energy
(simplyenergy.co.nz), a Wellington-based business that delivers energy solutions for
generators, distributors, retailers and commercial customers.
Contact Deputy CEO James Kilty said the transaction announced last month was completed
today. “New Zealand needs to accelerate the decarbonisation of its energy system and we
see Simply Energy playing an increasingly important role in helping companies across the
country reduce their carbon footprint.
“We know many organisations are wanting to make changes but are struggling with where to
start and how to get momentum. The Simply Energy team help customers take action
toward a cleaner energy future and their efforts form a key part of our new #changematters
initiative.”
Simply Energy managing director Murray Dyer said the deal signed today represented
another important milestone. “With the full backing of Contact we’ll be able to focus on
delivering the best possible results for our clients on everything from energy efficiency and
demand-side management to renewable generation and decarbonisation.
“James and the team at Contact are also committed to Simply continuing to operate as an
agile, stand-alone company so we can stay nimble, stay focused and keep innovating fast.
We’re proud about what we’ve achieved so far with the team, and we’re excited about this
next chapter.”
In June 2019, Contact acquired a 49.96 per cent shareholding in Simply Energy for $10.7
million. The purchase price for the remaining shares (50.04%) comprises a fixed price of
$7.3 million to be paid over FY22 and FY23, and a potential performance-based payment
linked to decarbonisation and earnings targets.
-ends-
More information:

 See more about #changematters here: contact.co.nz/changematters

 Murray Dyer and James Kilty are available for interviews. Please contact Paul
Ford at Contact Energy to tee these up: paul.ford@contactenergy.co.nz

 For investor queries, please contact Matt Forbes on +64 21 072 8578