9 Aug 2012

Low offer made to Turner shareholders

6:20 am on 9 August 2012

Turners & Growers says its shareholders have been targeted with a low offer by an Australian company, Stock & Share Trading.

The company, whose sole director and shareholder is John Armour, is known for trying to buy shares in other firms listed on the NZX for below market value.

Turners & Growers says Mr Armour shareholders are being offered $1 per share which is a significant discount to the company's most recent market price at $1.68.

In June, the same company targeted Heartland New Zealand with a similar low ball offer.