25 July 2017
The NZRPG Board today wishes to confirm its decision not progress further with a proposal for a Reverse Takeover Offer of Bethunes Investments Limited.
The decision follows a non-deal roadshow where market feedback indicated a capital raising in this climate would not attach in the Board’s view a fair and reasonable price to NZRPG’s portfolio of assets – given softening dynamics impacting the listed property sector and property market generally.
The Board will now assess various alternative capital management options, which it expects to progress following this year’s general election.
For further information, please contact:
Sara Johnson GM of Marketing and Communications