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SKYCITY warns of unsolicited offer to shareholders
SKYCITY warns of unsolicited offer to shareholders
SKYCITY Entertainment Group (SKYCITY) wishes to advise that it is aware of a below market price offer to its shareholders dated 18 April from New Zealand Investment Securities LP of $2.30 per share.
SKYCITY warns that this unsolicited offer is more than 30% below the current market price. At 4.00pm Wednesday 20 April the SKYCITY share price was $3.41 per share. SKYCITY agrees with the announcement issued by the Securities Commission this afternoon that accepting this offer is not in the best interests of shareholders.
SKYCITY is aware that a number of unsolicited offers have been made recently to shareholders of other New Zealand listed companies by New Zealand Investment Securities.
SKYCITY suggests that shareholders consult their financial advisor prior to taking any action and that they refer to the Securities Commission website for further reference.
SKYCITY notes that the general partner of NZ Investment Securities LP is Mr. Bernard Whimp.
The most recent market price for SKYCITY shares is available on the NZX website at www.nzx.com or the SKYCITY Investor Centre website at http://ir.skycityentertainmentgroup.com
ENDS
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