THL Rejects Offer From BGH Capital at NZ$2.30/Shr

Tourism Holdings rejected the approach as well below the level it can engage with, according to a statement on the NZX.

• The board believes its share price prior to the proposal reflected a bottom-of-the-cycle trading environment and that this contributed to the timing of an opportunistic and undervalued offer
• “Even allowing for significant downsides, and valuing currently underperforming parts of the Group based on their underlying assets, the current BGH Proposal is well below a level that the Board can engage with,” THL said
• Co. also confirmed FY25 underlying net at lower end of the NZ$27m-$34.4m range
• Sees stat. net ...