DPC
26/08/2014 16:45
TAKEOVER
REL: 1645 HRS Dorchester Pacific Limited
TAKEOVER: DPC: Takeover Notice in respect of Turners Group
26 August 2014
Company Announcement
UPDATE ON PREPARATIONS FOR DORCHESTER'S FULL TAKEOVER OFFER OF TURNERS GROUP
Dorchester Pacific Limited (NZX: DPC) advises that its subsidiary, Dorchester
Turners Limited, has today lodged a formal takeover notice with Turners
Group. Dorchester's current intention is to make the offer on 18 September
2014, with the offer to close on 17 October 2014, assuming shareholder
approval in mid-September.
Dorchester is also pleased to confirm that it has received equity commitments
from interests associated with its largest shareholders for a total of $10m
new share capital to complete the funding for the takeover, subject to
shareholder approval. Dorchester is currently finalising its notice of
annual meeting of shareholders, which will include an independent appraisal
report for Dorchester shareholders prepared by Campbell MacPherson.
ENDS
For further information please contact:
Paul Byrnes
CEO/Deputy Chairman
Dorchester Pacific Limited
DDI: (09) 308 4988
Mobile: 021 644 441
Grant Baker
Chairman
Dorchester Pacific Limited
Mobile: 021 729 800
End CA:00254432 For:DPC Type:TAKEOVER Time:2014-08-26 16:45:11
