Further to the announcement on October 28th, the Board of NPT wishes to
provide an update on progress since receiving the request from Augusta
Capital ("Augusta") to call a special meeting of shareholders.
Firstly, the Board is seeking guidance from the NZX in regards to some
aspects of the Augusta request to call a special meeting of shareholders.
NPT intends to provide a further update on that matter and on the timing of
the special meeting at a later date.
Secondly, the Board advises that NPT was considering other proposals close to
the date Augusta presented its proposal. Due consideration will be given to
all of these proposals. NPT has engaged with external expert advisors to
provide robust assessment of the merits of each proposal. Since the Augusta
proposal was disclosed to the market, further parties have expressed interest
in submitting proposals and the Board remains open to reviewing these as
well. The proposals are all non-binding, indicative and incomplete and no
agreements have been entered into. The Board is committed to ensuring that
through this process of evaluation the best interests of the Company and all
its shareholders will be foremost in their minds. Once all aspects of the
proposals have been fully assessed the Board will be in a position to provide
a further update to the market.
ENDS
For more information, please contact:
Tony Osborne T 09 302 4586
Chief Executive Officer M 021 606 088
NPT Limited E tony@npt.co.nz
Stephen Reid T 09 302 4584
Chief Financial Officer M 021 766 636
NPT Limited E stephen@npt.co.nz
www.npt.co.nz
End CA:00292046 For:NPT Type:GENERAL Time:2016-11-03 12:26:50