Dispute regarding Empire’s obligation to reimburse Vital

24/03/2025 14:14 NZDT, MKTUPDTEP

24 March 2025

Dispute regarding Empire’s obligation to reimburse Vital

On 3 December 2024, Vital advised that Empire Technology Limited (Empire) had commenced proceedings in the High Court relating to the takeover proposal that Empire announced but did not proceed with. On 14 March 2025, the Takeovers Panel made a determination and issued an order regarding the takeover expenses that were incurred by Vital in response to Empire Technology Limited’s (Empire) takeover proposals, concluding that Vital is entitled to be reimbursed for the full invoiced amount of $247,036, and has ordered that Empire pay that amount to Vital.

Empire has today lodged an appeal with the High Court and has indicated it will file an amended Statement of Claim on the proceedings and the Takeovers Panel decision.

John McMahon

Vital Chair

For media enquiries please contact:

Richard Llewellyn on richard@shanahan.nz or 027 5232362

ENDS