Close Of Tait Offer and Compulsory Acquisition

26 September 2025


Close Of Tait Offer and Compulsory Acquisition


Vital Limited (NZX: VTL) announces that Tait International Limited’s full takeover offer for all of the equity securities in Vital has now closed. Tait received acceptances under the offer for 96.3% of Vital’s shares and 100% of Vital’s share options. Tait must acquire and pay for shares for which it has received acceptances within five working days after receipt of the acceptance. Accordingly, Tait must pay shareholders who accepted the offer on the last day of the offer period by no later than 2 October 2025.

Tait has today provided a formal “acquisition notice”, which commences the Takeovers Code compulsory acquisition process for the Vital shares for which Tait did not receive acceptances under its offer. The compulsory acquisition price is the same as the offer price, being $0.45 per share. Under the Takeovers Code, outstanding shareholders who did not accept Tait’s offer cannot object to this price or require that the price be determined by an independent expert.

If you are an outstanding shareholder, you now have until 17 October 2025 to voluntarily transfer your shares to Tait, by signing and returning the transfer form that accompanies the acquisition notice. If you do so, Tait must pay you the compulsory acquisition price for your shares within five working days after receiving that transfer. Accordingly, the Vital board recommends that all outstanding shareholders should sign and return the share transfer form as soon as possible, to ensure prompt payment.

If you do not voluntarily transfer your shares to Tait by 17 October 2025, then Tait must, under the Takeovers Code, compulsorily acquire your shares by 24 October 2025. If your shares are compulsorily acquired in this manner, Tait must pay the compulsory acquisition price for your shares to Vital, which will hold that price on trust for you in an interest-bearing trust account with a New Zealand registered bank until it is claimed by you. In practice, Vital intends to engage its share registrar, MUFG Pension & Market Services, to operate the trust account and process claims on behalf of Vital. If your shares are compulsorily acquired by Tait, you can contact MUFG to claim the price for your shares (and any accrued interest, less any applicable taxes) by phone on: +64 9 375 5998 or by email at: [email protected].

The timetable for compulsory acquisition is set out below. Vital will separately update the market regarding the timetable for suspension of trading in Vital shares and delisting.

Tait’s takeover offer closed - 25 September 2025
Tait commenced compulsory acquisition of the outstanding shares in Vital - 26 September 2025
Last date for Tait to pay for shares for which it received acceptances under the offer (i.e., in respect of acceptances received on the closing date) - 2 October 2025.
Last date for outstanding Vital shareholders to voluntarily transfer shares to Tait under the compulsory acquisition process - 17 October 2025
Last date for Tait to effect the compulsory acquisition of any Vital shares for which it did not receive a voluntary share transfer - 24 October 2025


ENDS

For investor relations enquiries, please contact John McMahon, Vital Chairman on [email protected] or 021 0914 0236

For media enquiries, please contact Richard Llewellyn on [email protected] or 027 5232362

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Announcement PDF