Trading Halt in TIL Logistics Group Shares
TIL Logistics Group Limited (NZX: TLL) has requested a trading halt on the NZX following notification from Bowker Holdings 99 Limited and Kern Group (Logistics) Pty Limited, that they intend to undertake a sale of up to 12,000,000 ordinary shares in TLL, representing approximately 14.54% of all TLL ordinary shares.
Bowker Holdings and Kern Group have advised TLL that they intend to undertake the sale by way of a bookbuild managed by Woodward Partners. The bookbuild will not be underwritten.
Bowker Holdings and Kern Group have requested that TLL seek a trading halt until they confirm to TLL the extent to which the sale has completed.
Prior to the sale, Bowker Holdings holds approximately 81.37% of the ordinary shares in TLL and Kern Group interests hold approximately 6.76% of the ordinary shares in TLL.