Ravensdown confident

Press, 30 August 1977, Page 26

Ravensdown confident

PA Dunedin j i The Ravensdown co operative fertiliser company 1 will issue its formal take-; over offer to Dominion FerItiliser, Ltd, on Wednesday. ■ The offer of 425 c a share, | will then be posted to Dorninion shareholders after the statutory 14 days after noti tication has elapsed. Mr P H Elworthy, the chairman says. 1 Ravensdown’s confidence , in acquiring its target of 60 per cent of the “A” shares I ,’in Dominion had increased. ( says Mr Elworthy. The co-operative is selling • its own $2O shares to South 1 Island farmers, accepting ai, provisional payment of 500 c I for each one. ■ The canvassing programme I 1 was going well and the $lM' ■ Ravensdown hoped to raise] > from farmers “will be in very I ’ good time.” ) The financing programme , will be discussed at Tues-. I day afternoon’s board meet-j Sing in Timaru, says Mr El-; .worthy. || After Dominion Fertiliser • shares fell to 460 c on Friday.; i after reaching 500 c. Mr El- ■ ] worthy was confident the fall I would continue this week, /making Ravensdown’s offer t more attractive. i Kempthorne Prosser is still offering 300 c a share in 1 - its bid for the Dominion Fer-j f tiliser company. f j