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

 

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