PYE BID FOR ULT.-EKCO
Acceptance By 97 p.c. (N.Z. Press Association) AUCKLAND, Feb. 15. Holders of 97.1 per cent, of the issued ordinary shares of Ultimate-Ekco (N.Z.) Company, Ltd., had accepted the Pye Electronics, Ltd., takeover offer by February 15, said Mr G. A. Woolier, chairman of Pye, in a statement today. Pye Electronics, local holding company for the British Electronics group, offered 35s in cash for each 10s UltimateEkco share, or seven £1 Pye ordinary shares for every six Ultimate-Ekco shares, or any combination of the two. The directors of Pye have extended the closing date for acceptance of the offer to February 22. Meanwhile, the merger of the two companies will proceed. Ultimate-Ekco will pay an interim dividend of 5 per cent, on March 22, books closing on March 15.
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Bibliographic details
Press, Volume CII, Issue 30058, 16 February 1963, Page 16
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132PYE BID FOR ULT.-EKCO Press, Volume CII, Issue 30058, 16 February 1963, Page 16
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