Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


CCHL urges Port shareholders to accept offer

11 April 2006

CCHL urges Lyttelton Port Company shareholders to accept offer

With its offer of $2.20 per share nearing its close, Christchurch City Holdings Ltd (CCHL) is urging Lyttelton Port Company Ltd shareholders to take this last opportunity to accept.

"The offer of $2.20 is completely free of brokerage and is being paid by CCHL within seven days of receipt and processing of the acceptance form," says the chief executive of CCHL Bob Lineham.

“We note that Port Otago is now no longer quoting on the market and therefore the best offer available to shareholders is our $2.20,” says Mr Lineham

CCHL's offer closes on 12 April 2006 and only offers forwarded up to and including that date will be accepted.

"When a takeover offer expires, the share price of the company often reduces below the offer price,” Mr Lineham says. "In the case of Lyttelton Port Company, the offer of $2.20 is 25% above the level of the pre-offer share price."

Acceptance of the CCHL offer has been recommended and supported by the directors of Lyttelton Port Company Ltd.

"We are urging shareholders to seek the advice of their financial advisors if in doubt, but in any event to get their acceptance in the post by Wednesday 12th," says Mr Lineham.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news