Empire seeks to pick up 50.01% of Vital's fully paid ordinary shares
Harmos Horton Lusk has been tapped to provide guidance to NZX-listed telecommunications company Vital Limited in relation to a proposed partial takeover offer from Empire Technology Limited.
Under the offer, Empire seeks to purchase 50.01% of Vital’s fully paid ordinary shares for $0.375 per share, as per an NZX announcement.
In a statement published by the NZ Herald last month, a full takeover offer was not made because “by remaining a public company, Vital will have access to capital to fund future growth while also providing existing shareholders an opportunity to continue participating in the business over the long term”, Empire said.
The Herald also reported last month that Asset Management Partners, which held 8% interest and was the single biggest shareholder in Vital, backed the deal.
Director Nathanel Starrenburg is leading the Harmos Horton Lusk team working on this deal.
Vital is the biggest commercial provider of nationwide radio services, and owns and operates fibre across Auckland and Wellington.
