Vital granted waiver, Tait International begins takeover

Vital has announced that it has been granted a waiver from NZX Listing Rule 3.6.1, which means it is not required to release and send an annual report for the financial year ended June 30, 2025.

The waiver is conditional on Vital releasing the announcement.

The company said the reason for the waiver is that Tait International has commenced the Takeovers Code compulsory acquisition process to acquire the remaining shares in Vital for $0.45 per share.

As a result, NZ RegCo has advised Vital that trading in its shares will be suspended, followed by the cancellation of the quotation of those shares and delisting.

The timetable for the compulsory acquisition and delisting has been provided.

Trading in Vital shares will be suspended on October 3, 2025, and the cessation of quotation and delisting will occur on October 7, 2025.

The last date for outstanding Vital shareholders to voluntarily transfer shares to Tait is October 17, 2025, and the last date for Tait to effect the compulsory acquisition of any Vital shares is October 24, 2025.