‘Don’t sell’ notices
PA ■ Wellington Two companies — Yates and AM Risley’s have issued “don’t sell” notices.
The directors of Yates Corporation, Ltd, directors have advised shareholders not to sell their shares to Equiticorp Holdings, Ltd until the board further considers the price offered.
The directors said in a statement yesterday that they accepted the rationale behind Emnticorp’s take-over offer. They expected to complete their deliberations on the price early in January. Equiticorp said on Friday it would swap three Equiticorp ordinary shares for seven Yates ordinary shares, and seven Equiticorp ordinary shares for 10 Yates preference shares.
A. M. Bisley and Company, Ltd, directors have also recommended that shareholders do not sell to Equiticorp Holdings, Ltd, which announced a take-over bid on Friday. The Bisley directors said they proposed to make a further recommendation early in January.
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Press, 24 December 1985, Page 18
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137‘Don’t sell’ notices Press, 24 December 1985, Page 18
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