Waitaki Wants More C.F.M. Shares
Waitaki Farmers Freezing Company, Ltd, has sent a circular to those C.F.M, shareholders who accepted their bid offering to acquire their shares on the terms of the bid.
The circular was received! after the Canterbury Frogen! Meat Company, l.td. advised shareholders of an extraordinary meeting to amend the company’s articles.
The change is designed to prevent the possibility of loss of control to a minority share ! holder working through nominee shareholdings. After advising C.F.M shareholders that the take-over attempt has been unsuccessful. Waitaki. in the circular expresses its desire to acquire further C.F.M. shares. Notwithstanding the defeat of the bid. Waitaki says “we would still like to purchase your C.F.M. shares for the same consideration as already accepted by you " This is at four Waitaki shares for every three C.F.M ordinary shares plus 28c cash for each C.F.M. share. The offer is for C.F.M shares "cum rights” to the share issues to be made by C.F.M
11 to accept this offer or to retain C.F.M shares. ! If the latter course is adopted Waitaki will return any ■ C.F.M. scrip held
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Bibliographic details
Press, Volume CIX, Issue 31974, 29 April 1969, Page 23
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184Waitaki Wants More C.F.M. Shares Press, Volume CIX, Issue 31974, 29 April 1969, Page 23
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