FilingReader Intelligence

Vital in dispute with Empire over takeover expenses

March 27, 2025 at 11:18 PM UTCBy FilingReader AI

Vital (NZX:VTL) is in a dispute with Empire Technology Limited regarding the reimbursement of takeover expenses. The disagreement stems from a takeover proposal announced by Empire that did not proceed. On March 14, 2025, the Takeovers Panel ruled that Vital is entitled to reimbursement of $247,036 for expenses incurred during Empire's takeover proposal. Empire has been ordered to pay this amount to Vital. However, Empire has lodged an appeal with the High Court against the Takeovers Panel's decision and intends to file an amended Statement of Claim. The proceedings relate to a High Court case that commenced December 3, 2024. John McMahon, Vital Chair, is quoted in the announcement.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

NZX:VTLNew Zealand Exchange

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