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


MFS Shareholders To Recieve Final Dividend



MFS Living And Leisure Group Allows Shareholders
To Receive Final Dividend Payment

MFS Living and Leisure Group (ASX/NZX: MPY) has waived condition 5.2(a) of its offer, subject to terms announced to the market, to allow Tourism Holdings Limited (NZX: THL) shareholders to receive payment of a final divided of six cents per share for the 2007 financial year.

MPY chief executive, Marshall Vann, said the MPY Board of Directors had been approached by THL with the request and, after consideration, had agreed to allow payment of the final dividend of six cents to shareholders in addition to the $2.80 offer price.

He encouraged shareholders to accept the offer ahead of Saturday, July 21, 2007, the date acceptances must be received by.

“We believe $2.80 is a very good price and we are excited about building on THL’s strong reputation in New Zealand.

MPY’s offer is a 34 per cent premium to the 90 trading day volume weighted average price of THL shares prior to the takeover announcement.

“The offer price of $2.80 is the best opportunity for shareholders to realise value in THL shares, which have not traded above the offer price in seven years,” Mr Vann said.

“The combination of THL and MPY will be a stronger and more stable business than either of the companies in their own right. It will be more resilient to the natural fluctuations in tourism and leisure markets and better placed to offer investors stable returns.

“Through MPY’s listing on the New Zealand Stock Exchange, and by accepting the offer, shareholders have the opportunity to continue to invest in a growing international tourism and leisure business that incorporates the THL assets.

“The offer is conditional on receipt of acceptances to give MPY a holding of at least 90%.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Statistics: Food Prices Increase 7.4 Percent Annually
Food prices were 7.4 percent higher in July 2022 compared with July 2021, Stats NZ said today... More>>

REINZ: Market Activity And Prices Continue To Ease, First Home Buyers Start To Return To The Market

New Zealand’s winter property market continues its recent trend, slowing from the pace of sales and price rises of last year — properties stay on the market longer and median prices dip... More>>

FMA: Cigna Admits Making False And Misleading Representations
Cigna Life Insurance New Zealand Limited has admitted to making false and/or misleading representations to customers in proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko... More>>

Retail NZ: Welcomes Return Of Cruise Ships

“Cruise visitors were big spenders in retail prior to COVID-19, and retailers in Auckland will be celebrating the arrival of P&O’s Pacific Explorer this morning... More>>

ASB: Full Year Results: Building Resilience Today And For Our Future

In its 175th year, ASB has reported a cash net profit after tax of $1,418 million for the 12 months to 30 June 2022, an increase of $122 million or 9% on the prior year... More>>

Commerce Commission: Draft Determination On News Publishers’ Association’s Collective Bargaining Application
The Commerce Commission (Commission) has reached a preliminary view that it should allow the News Publishers’ Association of New Zealand (NPA) to collectively negotiate with Meta and Google... More>>