Tait completes Vital takeover, initiates compulsory acquisition

Tait International Limited (Tait) has successfully closed its takeover offer for Vital Limited (Vital), acquiring 96.3% of shares and 100% of share options. With over 90% control, Tait is now exercising its compulsory acquisition rights under Part 7 of the Takeovers Code, requiring all outstanding shareholders to transfer their shares at a price of NZD 0.45 per share. Shareholders who accepted the offer by the closing date will be paid by October 2, 2025.

Outstanding shareholders have until October 17, 2025, to voluntarily transfer their shares to Tait to ensure prompt payment within five working days of receipt. If shares are not voluntarily transferred by this date, Tait will compulsorily acquire them by October 24, 2025. In such cases, the consideration will be held in an interest-bearing trust account by Vital's share registrar, MUFG Pension & Market Services, until claimed.

Following the acquisition, Vital has been granted a waiver from NZX Listing Rule 3.6.1 regarding its annual report. Trading in Vital shares will be suspended at the close of business on October 3, 2025, with delisting from the NZX Main Board effective at the close of business on October 7, 2025.