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Masthead Moves To Compulsory Acquisition
20 May 2005
Masthead Moves To Compulsory Acquisition
Masthead Equities Limited is moving to compulsory acquisition of Vertex today after its shareholding broke through 90%.
Under the Takeovers Code Masthead has today filed a compulsory acquisition notice to purchase all of the outstanding shares in Vertex.
Masthead’s Mark Stewart said this would result in the delisting of Vertex shares in the near future.
“We intend visiting the company’s operations as soon as possible and talking to Vertex management and staff, who are critical to the ongoing success of this company. We will also be engaging with other key stakeholders including customers and suppliers.
Masthead has considerable experience in the plastics industry. It currently owns 51.2% of Alto Plastics, an industrial and consumer products company.
“We are very familiar with the plastics industry and intend applying our expertise to Vertex,” Mr Stewart said.
ENDS
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