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Offer For Wrightson Shares To Close On 23 June

Offer For Wrightson Shares To Close On 23 June

Rural Portfolio Investments said today that its offer for shares in Wrightson will definitely close on Wednesday 23 June.

The Managing Director, Craig Norgate, stressed that RPI will be unable to take acceptances received after the closing date. “I urge shareholders who want to take advantage of what is clearly a very good offer to do so without delay,” he said.

Mr Norgate said reaction to the recently-increased price of $1.65 per share had been extremely positive, with favourable recommendations from leading sharebrokers and a steady stream of acceptances. “We have received acceptances from more than 3,000 shareholders to date, which is well ahead of our expectations for this stage of the offer,” Mr Norgate said.

“The increased price is 41 cents (or just over 33 percent) above the market price of the shares before our bid – and is within the independent valuation range assessed by Grant Samuel,” he said “It is a higher price than the shares have ever traded at in the decade since they were listed.”

Confirmation of the closing date is being mailed to Wrightson shareholders today.

ENDS

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