UPDATED: St Laurence seeks 19.9% of Rural Equities

It says this offer is better than one put up by H&G Limited, which is associated with Sir Selwyn Cushing.

St Laurence Equities is offering shareholders $1.50 cash per share.

"Offers from shareholders to sell their shares will be accepted on a first in, first accepted basis up to 19.9% or a lesser percentage as we may decide," St Laurence says.

"We believe that the proposed acquisition of up to a 19.9% shareholding in Rural Equities Limited provides shareholders with an opportunity to sell all their shares immediately, with no scaling and at a fair and reasonable price.

"The proposed acquisition is also not conditional on gaining a minimum shareholding or on any favourable shareholder vote," the company says.

Rural Equities shareholders have also been $1.25 from H&G Limited, a company owned by Sir Selwyn and David Cushing.

St Laurence says its stand in the market is separate from and in addition to the formal takeover offer.

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.