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

 


Takeover Offer for King Country Energy

Dear Unlisted Users

Please note the takeover offer announced today by King Country Energy (see below).

Accordingly trading in KCE stock on Unlisted has been halted until Monday 27 November.

Regards

Bruce Cossill
Manager, Unlisted


Takeover Offer for King Country Energy


The Board of King Country Energy (KCE) has received a Takeover Notice from Todd Energy for 100% of KCE at a price of $4.40 per share, in terms of Rule 41 of the Takeovers Code Approval Order 2000. Currently Todd Energy owns 35.38% of KCE.

The Board has formed an Independent Committee comprising the non-Todd Energy Directors of the Company: AJ Palmer, JGO Stubbs and GRH Gower. This Independent Committee will be proceeding with evaluating and making a recommendation on the Offer in accordance with the Takeovers Code.

The Independent Directors are concerned that all shareholders are fully and equally informed. Accordingly, we are requesting an immediate suspension of trading on Unlisted through to the opening of the market on Monday, 27th November.

Appropriate notification of receipt of notice of the Offer will be mailed to shareholders immediately. In the meantime shareholders are urged to take no action in response to the Offer.


AJ Palmer
Chairman
King Country Energy


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

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:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news