Enza said yesterday that it had agreed to register the shareholdings of Guinness Peat Group and FR Partners, which are each seeking 19.9 per cent of the apple and pear marketing company.
When the pair began their raid last month, Enza chairman John McCliskie threatened not to register their shares as
he believed their action in concert had flouted rules restricting any one shareholder to 20 per cent of the company.
"After considering further information received from GPG Orchards Ltd and FRP Orchards Ltd, the board of Enza Ltd resolved to register the transfer of the shares to GPG and FRP," Enza said.
FR Partners said yesterday that it would seek two seats on apple exporter Enza's board. It said it had about 18.5 per cent of Enza yesterday, a similar level to GPG.
The two firms' bids at $1.65 a share closed on Friday.
FR Partners chief executive Bill Birnie says he wants to meet Enza's board as soon as possible after shares are registered.
- NZPA
