Buller Electricity initiates mop-up provisions for holdout shares in Pulse Energy

Mon, 11 Jan 2016

By Sophie Boot Jan. 12 (BusinessDesk) - Buller Electricity has sent a compulsory acquisition notice for the remaining shares in Pulse Energy, after becoming the dominant shareholder in the energy retailer following a takeover bid. The South Island lines company became the holder of 90 percent or more of the voting rights in Pulse on Jan. 8, making it the dominant shareholder, it said in a statement to the market. All outstanding shareholders must now sell their shares to Buller. At 4pm yesterday, Buller announced it now holds 353 mill...

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