INDEPENDENT NEWS

City Forests Limited owns 50% of units in Opio

Published: Fri 8 Oct 2004 02:37 PM
8 October 2004
City Forests Limited today announced that it now owned 50% of the units in Opio Forestry Fund.
Earlier this week City Forests made its 85c per unit cash takeover offer unconditional.
City Forests’ chief executive Mr Phil Taylor said: “We are pleased to have gone through the 50% mark. Clearly we have encountered issues along the way, namely full and open access to the Opio register which has restricted us from communicating with unitholders in the way we would have liked to. But we always believed our offer to be an attractive one and the level of acceptances reflects this.”
City Forests offer closes at 5pm today. However, the company will honour late acceptances received over the next few days.
City Forests currently has acceptances for 7,482,005 units in Opio representing 50.0% of the total units on issue. It expects this percentage to rise further in the coming days.
ENDS

Next in Business, Science, and Tech

Grey Power Is Disappointed To Learn Of More Bank Closures
By: Grey Power New Zealand
Supply Chain On Brink Of Overload Says National Road Carriers
By: National Road Carriers
Supermarkets Announced As Government’s Second Market Study
By: New Zealand Government
Retail Sales Recover In The September 2020 Quarter
By: Statistics New Zealand
New Zealand Flies Into The Stratosphere
By: Kea Aerospace
Births And Deaths: Year Ended September 2020
By: Statistics New Zealand
Okay Boomer: Kākāpō Wins Bird Of The Year 2020
By: Forest And Bird
BNZ Optimistic About Year Ahead
By: BNZ
Market Study Of Supermarkets ‘positive’ For Shoppers, Manufacturers
By: NZ Food and Grocery Council
Consumer NZ Welcomes Supermarket Investigation
By: Consumer NZ
Supermarket Inquiry Should Look At Govt’s Role
By: New Zealand National Party
Māori Population Estimates: At 30 June 2020
By: Statistics New Zealand
View as: DESKTOP | MOBILE © Scoop Media