Sharechat Logo

Rocom revises key transaction offer

By Phil Boeyen, ShareChat Business News Editor

Tuesday 5th December 2000

Text too small?
New capital market listing Rocom Wireless (NZSE: ROC) has revised downwards its conditional agreement for sale and purchase of shares in Rocom.

Rocom is a major independent supplier of wireless telecommunications equipment, and has annual sales of around $16 million.

Under the terms of the new agreement, ROC will purchase all of the shares in Rocom for up to $4.9 million, paying $1.8 million in cash and issuing up to 6.2 million shares in ROC at an issue price of 50 cents per share.

Previously ROC planned to pay $5.75 million made up of $2.15 million in cash and 7.2 million in shares.

The offer is conditional on shareholder approval, due diligence and NZSE approval. It is also conditional on raising the $1.8 million cash component of the purchase price.

ROC shares hit $1.40 soon after listing but today were trading down 22 cents at 52 cents.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Rocom postpones growth
Rocom sees cost benefits from new business

IRG See IRG research reports