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

 

LPC Response to CCHL Full Takeover Offer for LPC

01 September 2014

NZX RELEASE

LPC Response to CCHL Full Takeover Offer for LPC (“Offer”)

The Board of Lyttelton Port of Christchurch (LPC) met today to consider the Independent Adviser's Report prepared by Northington Partners on the merits of the Offer by Christchurch City Holdings Limited (CCHL) and to finalise the Target Company Statement and Directors' recommendation to shareholders in respect of the Offer.

The Board has unanimously resolved to recommend to shareholders that they accept the Offer.

The Board has also resolved to pay a fully imputed special dividend of $0.20 cents per share on 18 September 2014, provided that the conditions in clause 5.1 of the Offer (being all conditions other than the Dividend Condition and the 90% Acceptance Condition) have been satisfied or waived by CCHL on or before 5pm 17 September 2014. The Record Date for the dividend is 16 September 2014.

The Board expects to despatch the Target Company Statement and Independent Adviser's Report to shareholders on 3 September 2014.

The Board urges shareholders to do nothing in respect of the Offer until they receive the Target Company Statement (including the Board's full recommendation) and the Independent Adviser's Report.

ENDS

Note: No further comment will be made on this matter until further content has been distributed to shareholders later this week.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

NZ's Space Programme: Rocket Lab Launches NASA Satellites

On Sunday, December 16, 2018 UTC, Rocket Lab’s Electron launch vehicle successfully lifted off from Rocket Lab Launch Complex 1 on New Zealand’s Māhia Peninsula. More>>

ALSO:

Conservation Plan: Celebrity Kiwi Released Into The Wild

One of the nation's most famous kiwi was among four released onto Taranaki Maunga... Atara, a five-year-old male, hatched while David Attenborough's cameras were rolling. More>>

ALSO:

Budget Policy Statement: 'Wellbeing Of NZers At The Heart Of Budget Priorities'

“We want a wellbeing focus to drive the decisions we make about Government policies and Budget initiatives. This means looking beyond traditional measures - such as GDP - to a wider set of indicators of success,” Grant Robertson said. More>>

ALSO:

Short Of 2017 Record: Insurers Pay $226m Over Extreme Weather

Insurers have spent more than $226 million this year helping customers recover from extreme weather, according to data from the Insurance Council of NZ (ICNZ). More>>