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

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Reaction

Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced

 

Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>

ALSO:


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election