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- Release Date: 05/08/13 10:30
- Summary: GENERAL: POT: UNSOLICITED OFFER TO BUY SHARES
- Price Sensitive: No
- Download Document 1.47KB
POT
05/08/2013 08:30
GENERAL
REL: 0830 HRS Port of Tauranga Limited (NS)
GENERAL: POT: UNSOLICITED OFFER TO BUY SHARES
Port of Tauranga Limited has been advised that a company called Washington
Securities Pty Limited is making an unsolicited offer to some holders of the
Company's shares.
The price being offered by Washington Securities is $8.00 per share which is
over 40% less than today's share price.
The proposed offer is expected to open on 6 August 2013 and close on 24
September 2013.
As the offer is significantly less than the current market value of Port of
Tauranga shares, it is strongly recommended that any shareholder who receives
such an offer seek independent advice from a share broker, accountant or
solicitor.
Shareholders that hold a small number of Port of Tauranga shares who think it
too expensive or difficult to sell that small holding may think that the
offer from Washington Securities Pty Limited is convenient. However, those
shareholders are urged to first contact a share broker to discuss this, as
this may not be the case. For a list of share brokers, see NZX website
www.nzx.com.
The Unsolicited Offers Regulations give shareholders the right to cancel any
acceptance of the offer from Washington Securities Pty Limited up to 10
working days after the date of the acceptance.
For further details, contact:
Steve Gray
Chief Financial Officer
Port of Tauranga Limited
Ph: 027 245 7473
End CA:00239267 For:POT Type:GENERAL Time:2013-08-05 08:30:03
