Mitchell Trust bids for rest of Kidicorp

The Mitchell Investment Trust made a takeover bid at 19 cents per share for Kidicorp Group for the 51 per cent of the child care centre operator it does not already own.

The bid values Kidicorp at $5.9 million. Kidicorp shares last traded at 17.6 cents.

Wayne Wright, Chloe Angela Wright and Graeme Richard Holmes are trustees of Mitchell Investment Trust.

Kidicorp said that until an independent report was received the independent directors were unable to comment on the offer.

- NZPA