Vital has received a takeover intention from Tait International, which aims to acquire 100% of the company's fully paid ordinary shares at a price of $0.45 per share.
However, Tait has not yet provided formal notice of its intention to make the takeover offer.
The company said Tait will be in a position to provide formal takeover notice in the week commencing June 2, 2025.
The proposed takeover offer is said to be subject to a 90% minimum acceptance condition and a limited number of customary conditions.
Vital's board will consider the company's response to any takeover notice and offer, if it materialises.
Shareholders have been advised not to take any action at this time and to seek independent professional advice if they wish to deal with their shares.
Vital has requested the release of the trading halt and the recommencement of trading in its shares.
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