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TNT LIMITED (TNT)

Delisted NZX 03/01/1997

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delisted following a takeover by KPN Australia Limited - we understand KPN made a takeover offer in respect of all TNT shares together with all rights attaching to them - the consideration offered was A$2.45 cash for each TNT share - the preference shares were convertible into ordinary shares at any time after 30 November 1996 at TNT's option - based on an ordinary Share price of A$2.45, a holder of preference shares was not going to receive any additional bonus shares on conversion - holders of preference shares were to retain the preference share dividend for the six months ending 30 November 199603/01/1997

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