Renouf offer for Kirkcaldie’s
PA Wellington Renouf Corporation, Ltd, has announced a cash offer for 100 per cent of the shares in the unlisted Wellington department store of Kirkcaldie and Stains, Ltd. The offer of ?170 a share will be mailed to shareholders on August 18. Acceptances under the offer are required to be returned no later than September 19.
The offer will be made by a wholly owned subsidiary of Renouf Corporation. The major shareholder, the London-based British Overseas
Stores, Ltd, has indicated it will accept the offer. The offer is subject to Commerce Commission approval and acceptance in respect of at least 134,000 shares, which represents 91.5 per cent of the capital of the company. The chairman of Renouf Corporation, Mr Frank Renouf, said the corporation has given assurances to the directors of Kirkcaldies that, if its offer were successful, it would continue the operations of the department store and retain existing management and staff.
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Press, 3 August 1985, Page 23
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157Renouf offer for Kirkcaldie’s Press, 3 August 1985, Page 23
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