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- Release Date: 19/11/12 16:10
- Summary: GENERAL: VCT: Another "low-ball" offer to Vector shareholders
- Price Sensitive: No
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VCT
19/11/2012 14:10
GENERAL
REL: 1410 HRS Vector Limited
GENERAL: VCT: Another "low-ball" offer to Vector shareholders
Vector Chairman Michael Stiassny today warned shareholders that the company
was aware its shareholders were being targeted by another "low-ball" share
offer.
Mr Stiassny said the latest offer from Australian Stock & Share Trading
offered shareholders $2.00 per share, an offer which is 26% below today's
share price of $2.69.
"For a shareholder who has 1,000 shares and sells them to Stock & Share
Trading, they would receive $690- less than the market value of the shares.
I'm sure most people would prefer to have this money in their pocket, rather
than give it away to an offshore company.
"It is extremely frustrating that these offers continue in the New Zealand
market and that some are targeted at our shareholders," he said.
Mr Stiassny said the company's advice to shareholders receiving these offers
remained the same - that shareholders be wary of unsolicited offers, read the
detail of the offer carefully, seek independent advice and check the most
recent market price for Vector shares, before making any decision in relation
to the offer.
ENDS
End CA:00229930 For:VCT Type:GENERAL Time:2012-11-19 14:10:21
