LPC
06/08/2014 13:56
TAKEOVER
REL: 1356 HRS Lyttelton Port Company Limited (NS)
TAKEOVER: LPC: Notice of Receipt of Takeover Offer
Lyttelton Port Company Limited (NZX: LPC) advises, pursuant to Rule 42(1) of
the Takeovers Code, that it has today received a takeover notice in respect
of a full cash takeover offer at $3.95 per share.
The offeror, Christchurch City Holdings Limited, owns 79.7% of Lyttelton Port
Company's (LPC) shares. In addition, Port Otago Limited (which owns 15.5% of
LPC's shares) has agreed to accept the offer in respect of all of their
shares.
The offer is not presently capable of acceptance. The Board has formed a
Committee of Independent Directors and will put itself in a position to be
able to fully report to shareholders in accordance with the requirements of
the Takeovers Code.
Shareholders are recommended to take no action until they receive, and
consider, the board's takeover response documents. Shareholders who wish to
take any action in response to the notice of offer prior to then are strongly
encouraged to contact their financial adviser.
Attached are copies of the takeover notice and accompanying documents.
Yours faithfully
Peter Davie
Chief Executive
Lyttelton Port Company Limited
Copy to:
Takeovers Panel
Level 3, Solnet House
70 The Terrace
WELLINGTON
By email
[email protected]
-Ends-
For further information contact:
Jonathan Gardiner
Chief Financial Officer
Lyttelton Port Company Ltd
End CA:00253552 For:LPC Type:TAKEOVER Time:2014-08-06 13:56:52
