Marlborough extends Horizon offer

Photo / Mark Mitchell

Marlborough Lines has extended its offer for Horizon Energy shares for the second time by a further week.

Marlborough Lines purchased 10.1 per cent of Horizon Energy last month via a stand in the market at $4.06 a share then instructed First NZ Capital Securities to acquire up to another 5 per cent. The purchases are being made via a special order facility.

Horizon Energy is 77.3 per cent owned by Eastern Bay Energy Trust, which would like to move to 100 per cent ownership.

A substantial shareholding notice filed to NZX on July 26 said Marlborough Lines had increased its holding in Horizon Energy to 12.5 per cent.