|
4th December 2003
Dear Lemvest Shareholder,
I refer to my letter dated 25 November, 2003.
The major benefits and advantages of becoming a Lemarne shareholder have previously been
outlined in detail to you in my letter dated 7 November, 2003 and our bidder’s statement,
both of which have been sent to you.
I thank those Lemvest shareholders who have already accepted our offer to date.
You will recall that one major benefit of becoming a Lemarne shareholder is your ability to
access our franking credits. Lemarne has a strong history of paying fully franked dividends.
On the other hand, it is highly likely that, at least for the immediate future, any Lemvest
dividends will be unfranked.
To allow Lemvest shareholders who may have been away and therefore have not already accepted
our offer sufficient time to forward their acceptances to us, the Lemarne directors have
extended the offer period under the takeover bid to 6:00 pm (Melbourne time) on 19 December,
2003. Please find enclosed a formal notice extending the offer period.
I encourage you to accept our offer promptly.
As at today, our voting power in Lemvest had increased to approximately 90%. Unless extended,
our offer will now close on 19 December, 2003, after which, if we become entitled to, we
intend to compulsorily acquire the remainder of the Lemvest shares in accordance with the
Corporations Act.
If you have any queries or require another Acceptance Form to be sent to you, please contact
Lemarne’s company secretary, Stephen Mason on (03) 9820 2400.
Yours faithfully
BRIAN NOXON
Chairman
|
