Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Delagts Statement On Oyster Bay

Statement by Delegats Group Limited in respect of the prospective partial takeover offer for Oyster Bay Marlborough Vineyards Limited by its subsidiary Delegat’s Wine Estate Limited.

The decision of the High Court to void all the accepting contracts into the successful Delegats partial offer for 50.1% because of the shortcomings of the Target Company Statement issued by the independent directors of Oyster Bay is well known.

Having regard to the interests of Oyster Bay itself and its shareholders, Delegat’s has explored with PYIL how the control of Oyster Bay might be resolved in the interests of Oyster Bay itself and its shareholders. Delegat’s is pleased to announce therefore that agreement has now been reached with PYIL that if PYIL accepts into the partial offer which Delegat’s announced on 12 December, and provided that the Court releases PYIL from its undertaking to make an offer itself, Delegat’s would increase the price under the offer to all shareholders to $6 per share. PYIL has agreed to accept into the offer on that basis.

The price of $6 is a price which Delegat’s is prepared to pay in order to ensure certainty to Oyster Bay and its shareholders about the future control of Oyster Bay and the preservation of the visions and philosophies on which the company was founded.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news