Share
- Release Date: 21/11/12 17:01
- Summary: GENERAL: HBY: Offer by Zero Commission NZ Limited
- Price Sensitive: No
- Download Document 2.69KB
HBY
21/11/2012 15:01
GENERAL
REL: 1501 HRS Hellaby Holdings Limited
GENERAL: HBY: Offer by Zero Commission NZ Limited
HELLABY HOLDINGS LIMITED - NZX / Media Release: 21 November 2012
OFFER BY ZERO COMMISSION NZ LIMITED
It has come to the attention of Hellaby Holdings Limited ("Hellaby") that a
company named Zero Commission NZ Limited has written to a number of Hellaby
shareholders offering to purchase their shares in Hellaby.
In October 2012, Zero Commission NZ Limited requested a copy Hellaby's share
register in accordance with the Companies Act 1993 and this was provided to
them (as Hellaby is legally required to do).
The offer by Zero Commission NZ Limited is not in any way endorsed by the
Hellaby Board.
The price offered in the Zero Commission NZ Limited offer letter reviewed by
Hellaby is NZD2.70 per share. This is less than the market price of Hellaby
shares at the time of writing, which was NZD2.90 as at the close of trading
on the NZX on 20 November 2012.
Shareholders accepting the offer will be relying upon Zero Commission NZ
Limited to make payment for their shares. They will be unsecured creditors
of Zero Commission NZ Limited until they are paid.
Hellaby advises that shareholders are under no obligation whatsoever to
accept the offer or to take any action in respect of it.
Hellaby recommends that shareholders seek professional advice from their
lawyer or financial advisor before taking any steps in response to the offer.
ENDS
For further information please contact:
Richard Jolly
Chief Financial Officer
Hellaby Holdings Limited
Phone: 09 307 6844
Mobile: 0274 976 710
About Hellaby Holdings:
Hellaby Holdings ('Hellaby') is an NZX-listed investment holding company,
which owns a diversified portfolio of New Zealand and Australian industrial,
distribution and retail businesses. We structure our investment portfolio
through four divisions - Automotive, Equipment, Packaging and Footwear.
Our vision is to be a leading Australasian investor, based on the value we
add to our portfolio, the returns we deliver to our shareholders and the
calibre of our people. Hellaby will generate attractive long-term shareholder
value through a combination of performance improvement and organic growth in
the businesses we own, and through smart acquisitions and divestments. We
describe this strategy simply as 'Buy, Build, Harvest'. We seek to generate
total shareholder returns superior to the NZX50 Gross Index.
We have a variable investment horizon, and our portfolio will evolve over
time. We actively manage our investments through a lean corporate office, and
decentralise leadership and performance accountabilities to our companies.
End CA:00230052 For:HBY Type:GENERAL Time:2012-11-21 15:01:48
