Private investor stands in market for Vertex

The buyer is offering $1.45 per share, a 9.8 percent premium of yesterday's closing price of $1.32.

The unconditional stand values Vertex at $46.5 million.

JB Were chief executive Clark Perkins said the Vertex register was quite widely spread with many small holders so it could take some days to fill the order.

He said the investor, who did not wish to be identified until after the 5 percent threshold had been passed, would not say if a full takeover bid might later be made.

Vertex shares listed in July last year at $2.05 each but fell sharply in September after it controversially issued a profit warning not too long after listing.

Vertex emerged from Carter Holt Harvey's plastics packaging business. Its most recognisable products include containers for Tip Top brand ice cream and Fresh 'N Fruity yoghurt. The company also makes recycling bins and exports animal health applicators.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.