Sharechat Logo

MCK - MARKET UPDATE ON RESPONSE TO CDLHHNZ TAKEOVER NOTICE

Thursday 23rd January 2025

Text too small?

Millennium & Copthorne Hotels New Zealand Limited (the Company or MCK) advises that, in response to the takeover notice received from CDL Hotels Holdings New Zealand Limited (CDLHH NZ) on 20 January 2025, MCK has appointed Cameron Partners Limited and Bell Gully to assist it in responding to the takeover notice from CDLH.

 

The Company has also appointed Northington Partners Limited to prepare an independent adviser report under the Takeovers Code, and the Takeovers Panel has approved that appointment.

 

MCK recommends that shareholders do not take any action in respect of their shares until they receive a target company statement, including any recommendation from independent directors of MCK, and the independent adviser’s report. Shareholders who are considering selling their shares before then are recommended to seek their own professional advice.

 

In addition, the takeover notice does not apply to the listed redeemable preference shares in MCK (MCKPA). Any holders of preference shares who are considering selling those shares to CDLHH NZ through any broker facility it offers are recommended to seek their own professional advice.

 

-ENDS-

Issued by Millennium & Copthorne Hotels New Zealand Limited

For investor relations enquiries, please contact:

Stuart Harrison, Managing Director

M: +64 21 869 216

 

About Millennium & Copthorne Hotels New Zealand Limited

Millennium & Copthorne Hotels New Zealand Limited (NZX: MCK ) is the only NZX listed hotel owner – operator with 18 owned / leased / franchised hotels based in New Zealand under the Millennium, Grand Millennium, M Social, Copthorne and Kingsgate brands. As part of the Millennium & Copthorne Hotels group, we are proud to be part of a global network of over 120 properties in gateway cities across Asia, Europe, North America, the Middle East and New Zealand. MCK is also the majority shareholder in land developer CDL Investments New Zealand Limited (NZX: CDI ) and also has property interests in Australia through its Kingsgate Group subsidiaries including a 50% ownership interest in the Sofitel Brisbane Central through a joint venture.

For more information, visit our website: www.millenniumhotels.co.nz

 

 



  General Finance Advertising    

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.

Related News:

June 27th Morning Report
SDL - FY2026 Earnings Guidance
PaySauce Director resigns for US-based role with NZTE
General Capital Releases 2025 Annual Report
June 26th Morning Report
Devon Funds Morning Note - 25 June 2025
June 25th Morning Report
NWF - NZ Windfarms shareholders approve Meridian acquisition
GMT - GMT and GMT Bond Issuer Limited 2025 Annual Report
VSL - Vulcan extends its banking arrangement