Takeover For Ports Of Auckland Limited
1 June 2005
Auckland Regional Holdings Has 50% Of Required Acceptances In Takeover For Ports Of Auckland Limited
Auckland Regional Holdings (ARH) today announced that it has received half the acceptances required for it to reach the 90% acceptance level in its takeover offer of Ports of Auckland Limited (POAL).
As at Wednesday 1 June 2005, ARH had received acceptances from over 1,600 POAL shareholders totalling 5,304,014 shares, giving ARH a relevant interest in POAL of 85%.
ARH only requires acceptances of another 5% of POAL shares before it can initiate compulsory acquisition and move to full ownership of POAL.
ARH is confident that it will achieve 100% ownership of POAL.