AUCKLAND: Tait International Limited has issued a formal notice under the Takeovers Code, announcing its intention to acquire all equity securities of Vital Limited, including ordinary shares and employee-issued options.
The offer price is set at $0.45 per share in cash, representing a 64% premium to the $0.275 per share price before Vital’s trading halt on May 26, 2025.
The bid also exceeds the previously indicated $0.375 per share offer for Empire Technology Limited’s proposed 50.1% partial takeover in August 2024—an offer that was never formally executed.
Additionally, the bid marks a 53% premium to the highest trading price of $0.295 per share in the past two years, excluding the period of volatility in August and September 2024.
Tait has designed, manufactured and supported critical communications networks and terminals for more than 50 years.
Tait International Chairman Paul Munro described the takeover as a strategic expansion, reinforcing Tait’s market position and product offerings.
“We are confident that Tait is the right owner to support Vital’s future plans in a challenged operating environment,” Munro said. “This acquisition benefits Vital’s customers, employees, and stakeholders.”
Vital Limited recorded a revenue of $26.9 million in FY24 and adjusted net profit of $0.3 million.