NZX won't cancel Lyttelton Port trades after routine notice included takeover details

Tue, 05 Aug 2014

By Jonathan Underhill Aug. 6 (BusinessDesk) - NZX, the stock market operator, says it won't cancel trades in Lyttelton Port Co shares made after the release of a substantial security holder (SSH) notice that included first news of a takeover proposal for the company. Port Otago sent an SSH notice to the NZX last Friday afternoon that announced it had entered a lock-up agreement for its holding of about 15.5 percent with majority owner Christchurch City Holdings (CCH), which intended to make a full takeover of the listed Lyttleton Port at...

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