MARKET RELEASE
23 March 2017
Spark New Zealand responds to TeamTalk target company statement
Spark New Zealand responded to TeamTalk''s target company statement and
independent adviser''s report, which was released today.
Spark''s Chief Financial Officer, David Chalmers, said, "We believe the
valuation lacks real world credibility. The top end of the range represents a
premium to the last trading price before the Spark notice of intention of
369%, which is patently absurd.
"This report asks shareholders to have enormous faith that the TeamTalk
Board, many of whom are the same team which has led TeamTalk into what Grant
Samuel refers to as the "ill-fated" acquisition of Farmside, and more recent
"disarray", will deliver the huge improvement relied on in the valuation."
The full details of the Spark offer are available at investors.sparknz.co.nz
- ENDS -
For media queries, please contact:
Richard Llewellyn
Head of Corporate Communications +64 (0) 27 523 2362
For investor relations queries, please contact:
Dean Werder
General Manager Finance and Business Performance +64 (0) 27 259 7176
End CA:00298759 For:SPK Type:TAKEOVER Time:2017-03-23 11:51:08