NZX blasts AMP Property Portfolio over news story
NZXR wishes to comment on statements recently reported to have been made by AMP Property Portfolio Limited in respect of its takeover offer for CNZ.
Thursday, November 24th 2005, 5:54PM
by The Landlord
AMP Property Portfolio Limited general manager Stephen Costley was quoted in the Sunday Star Times on 20 November 2005 as saying:"What will happen is that eventually we'll get to 65% or 70% (control) or whatever it ends up at, and the stock exchange will say the entity is not widely held and therefore the stock is not liquid.
"So market knowledge about what is happening is not sufficient for it to remain listed and it will be removed from quotation. Unless in the next few days we gain 90 per cent acceptances and can move to compulsory acquisition."
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