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- Release Date: 18/12/12 14:17
- Summary: GENERAL: PFI: Zero Commission NZ Limited - Unsolicited Offer
- Price Sensitive: No
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PFI
18/12/2012 12:17
GENERAL
REL: 1217 HRS Property for Industry Limited
GENERAL: PFI: Zero Commission NZ Limited - Unsolicited Offer
ZERO COMMISSION NZ LIMITED - UNSOLICITED OFFER
Property For Industry Limited (PFI) wishes to advise that it has received a
request for a copy of its share register for shareholdings up to and
including 4,000 shares from Zero Commission NZ Limited (Zero). In its
request, Zero advises that it will be making an unsolicited offer to purchase
the shares of those PFI shareholders. Zero advises in its letter that the
offer price will be at a discount of around six percent (6%) to the market
price at the time of the offer.
The Board of PFI wishes to advise that it does not support or endorse that
offer.
Shareholders should carefully review the terms of the offer once received,
seek independent advice and check the current share price (see
https://www.nzx.com/companies/PFI) and cost of brokerage before coming to a
decision. The Board notes that, in the 30 days preceding the date of this
announcement, PFI shares have traded in a range of $1.21 - $1.25 per share.
There is no obligation on shareholders to accept any offer for their shares
from Zero.
The Securities Markets (Unsolicited Offers) Regulations 2012 have recently
come into force. Those regulations require Zero to provide shareholders with
its offer a disclosure document containing certain prescribed information.
Shareholders should carefully review that document. A copy of the document
is required to be provided to PFI and PFI will be carefully reviewing the
document to confirm that its contents are accurate. PFI will be providing a
copy of the document to the Financial Markets Authority.
Under the regulations shareholders also have a right to cancel any acceptance
of the offer up to 10 working days after accepting the offer.
If shareholders need any advice about this matter PFI suggests they contact
their legal or financial advisor. If shareholders do not have a financial
advisor, a list of financial advisors can be found on the Financial Markets
Authority's website (see http://www.fma.govt.nz).
Contact
For further information please contact:
Craig Peirce
Chief Financial Officer and Company Secretary
Mob: +64 21 248 6301
Email: [email protected]
About PFI
PFI is New Zealand's only listed company specialising in industrial property.
PFI's portfolio of 50 industrial properties in Auckland, Wellington and
Christchurch, is leased to 86 tenants.
www.pfi.co.nz
End CA:00231285 For:PFI Type:GENERAL Time:2012-12-18 12:17:44
