Norgate gets his WRI target

Tuesday 22nd June 2004

Rural Portfolio Investments says in a statement that it has processed acceptances for shares in Wrightson Limited under its partial takeover offer which, when combined with its own holding of approximately 13%, take it to 50.09%.

Under the terms of the offer, and the Takeovers Code, Rural Portfolio Investments can finish the offer only with a shareholding of 50.01%, and acceptances will be scaled accordingly.

RPI has filed a substantial security holder notice confirming the latest position.

Rural Portfolio Investments managing director Craig Norgate, said RPI�s focus from this point would be on providing leadership and stability for the benefit of Wrightson�s staff, customers and shareholders.

The offer will close at 5 pm tomorrow (Wednesday 23 June). It is expected that the final tally of acceptances will be known by the end of this week, allowing time for the processing of all acceptances received and postmarked up to the deadline.

The offer, at $1.65 per share, was announced on 6 April.

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