PPCS seeks more time

PPCS has succeeded in attracting just over 6.6 million shares of the total nine million it needs for control of Richmond.

The most recent extension on the $3.11 offer ends on April 20. Based on the current level of acceptances PPCS would have 68.6% of Richmond's capital but a forfeiture order by the High Court would reduce this to 34% of the voting securities.

The court move yesterday was the latest in a five-year battle for control of Richmond, which has been stoutly resisted by farmer shareholders implacably opposed to PPCS.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

February 20th Morning Report
SCL - Chief Financial Officer Transition
BLS - Strong YTD performance
CEN announces opening of NZ$75 million Retail Offer
AIA - 1H26 Interim Results
February 19th Morning Report
TWL - Share Purchase Plan Results
GMT revaluation, unit buyback and proposed structure update
Devon Funds Morning Note - 17 February 2026
CEN - Contact successfully completes NZ$450m Placement