Kiwi offer raised
NZPA Adelaide Kiwi International Company, Ltd, has increased the offer to shareholders of F. H. Faulding and Company, Ltd.
Faulding shareholders were recently told by their directors that an offer by Kiwi of one-for-two, plus 95c for Qrdinary shares, and 200 c for preference shares was inadequate. Shareholders are now offered one Kiwi ordinaryshare plus 115 c for every two ordinary (ex bonus) stock units of F. H. Faulding. Alternatively they are offered 125 c for each ordinary share. The Kiwi directors say that the offer was in the best interests of both the Fauldings and Kiwi groups of companies, and Fauldings shareholders.
Shareholders who accepted the Kiwi share offer would have the return on their investment increased by at least 60 per cent over the present annual Faulding dividend of 625 c a share.
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Press, 14 May 1979, Page 12
Word Count
138Kiwi offer raised Press, 14 May 1979, Page 12
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