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Mustek's 80c per share offer to Rectron
shareholders, which if accepted will see Rectron being delisted,
opened this morning.
If the offer,
which closes on 14 May, is successful, Rectron's listing will be
suspended on 17 May and terminated on 28 June.
Mustek needs
holders of 90% of the shares, other than those held my Mustek and its
management, to accept the offer before it can delist Rectron.
The offer is also
conditional on acceptance with regard to 90% of the offer shares.
The group said
last month that it had received irrevocable undertakings from
shareholders owning 88.1% of the offer shares that they will accept
the offer.
The Rectron share,
which was trading at 50c before the offer was announced last month,
was untraded at 76c on the JSE this morning. This was unchanged from
yesterday's close.
The Mustek share
was trading unchanged at 315c.
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