Vital board urges shareholders to accept Tait's $0.45 offer

Vital Limited's board is urging shareholders to accept Tait's $0.45 per share cash offer by the September 12, 2025, deadline. The offer is set to lapse if the 90% minimum acceptance condition is not met, and Tait has confirmed it will not waive this condition. The offer price is final, with no competing bids expected. If the offer lapses, Vital's share price is likely to revert to pre-offer levels.

Currently, over 67.9% of Vital shares have been tendered, including all shares held or controlled by Vital directors and officers. The board unanimously recommends acceptance, noting the offer represents a 63.6% premium to the NZX Main Board trading price prior to the takeover notice. It also falls within the independent valuation range of $0.44 to $0.69 per share.

Shareholders are encouraged to act promptly to increase the likelihood of the 90% threshold being met, ensuring the offer proceeds and mitigating the risk of it lapsing. The offer is scheduled to close at 11:59 pm on September 12, 2025.