Delegat’s Stands Firm on Offer and Supports Takeovers Panel Process
Delegat’s said today that it is committed to completing its partial takeover of Oyster Bay in line with accepting
shareholders wishes.
Delegat’s offer achieved almost threefold the number of acceptances required to take its holding in Oyster Bay to 50.1%.
It has supported the Takeovers Panel in the Panel’s application to the High Court (scheduled for the 9th of November) to
allow the bid to be settled and paid – targeted to occur by early December.
“In the interests of all Oyster Bay shareholders, we are committed to achieving finality and stopping the ongoing costs
which have already forced Oyster Bay to defer payment of this year’s dividend.” said Delegat’s Managing Director Mr Jim
Delegat.
“We are working with the Panel towards the success of its application to the High Court. It’s clear from the feedback
that we have received from Oyster Bay shareholders that this is also what they wish.”
Ends