Brief: Metro Performance Glass Says Received Unsolicited, Non-Binding, Indicative Proposal

Metro Performance Glass

18/07/2023 03:53

July 18 (Reuters) - Metro Performance Glass Ltd
 MPG.NZ :
    * TWO SHAREHOLDERS IN METROGLASS ADVISED THAT THEY HAVE
ENTERED
INTO A CO-OPERATION AGREEMENT
    * CO-OPERATION AGREEMENT WITH RESPECT TO A POTENTIAL
TRANSACTION
INVOLVING METROGLASS
    * RECEIVED AN UNSOLICITED, NON-BINDING, INDICATIVE PROPOSAL
(NBIO)
FROM A CONSORTIUM LED BY TAKUTAI LIMITED
    * NBIO FROM CONSORTIUM SEEKING TO ACQUIRE ALL OF METROGLASS
SHARES
AT A PROPOSED PRICE OF NZ$0.18 PER SHARE
    * BOARD OF DIRECTORS OF METROGLASS CONCLUDED THAT PROPOSAL
SIGNIFICANTLY UNDERVALUES METROGLASS
    * RECEIPT OF NBIO COMES AFTER METROGLASS RECENTLY RECEIVED
CONFIDENTIAL ENQUIRIES FROM MASFEN SECURITIES DURING MAY AND
JUNE

Further company coverage:  MPG.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))