Stevens raises N.C.F. offer 60c

Press, 15 May 1985, Page 1

Stevens raises N.C.F. offer 60c

The offer for N.C.F. Kaiapoi shares has been increased 60c. Stevens Group Properties, Ltd, advised N.C.F. shareholders yesterday that the cash offer for each ordinary $1 share has been raised from $5.25 to $5.85. The group’s chairman, Mr Ces Stevens, in a letter to shareholders, says that any rebate properly declared for the current season on shares held at April 2 will be received by selling shareholders, even though the total for the year may exceed $1.75. The group is waiving its earlier condition limiting the amount of the

rebate. “The cash settlement for your shares will be paid promptly once the offer is declared unconditional; that is, within 21 days of that date or, if you have a loan to be repaid to the Meat Board or Kaiapoi, within 21 days of the repayment,” said Mr Stevens. He said his group would guarantee farmer suppliers preferential access to the merged group killing facilities. The Examiner of Commercial Practices has already consented to the takeover bid. ; ■ - The date of acceptance is May 28. TwXj.