Last month, Blue Sky's board delivered a ''wait'' instruction to shareholders until mid-January on whether to accept the $25.3million offer by Binxi of $2.20 a share.
Binxi, which already owns 13.5% of the Southland-based meat processor, made its offer two months ago. This week, the company advised it had extended its offer period until February 18.
Last month, Blue Sky's chairman Scott O'Donnell said the board had asked Binxi to to delay its offer, in order to provide further time for management to work on a new strategic plan, so the board was better placed to give guidance to shareholders. At that time, Binxi refused to give Blue Sky the time it asked for, Mr O'Donnell said.
In a note to shareholders, Blue Sky's board said it was 'very important' shareholders attended the meeting tomorrow night, at Bill Richardson Transport World.
Topics to be covered included an update on the Binxi offer process and timing, an update on Blue Sky's strategic review and outcomes, board and management perspectives on the ''fair value'' of the Blue Sky business, and recommendations on shareholders' next steps.
Until further updates at that meeting, the board continued to recommend shareholders should wait and take no action. They had until the closing day of the offer to decide whether or not to accept it.
A separate independent advisers' report by Campbell MacPherson released last month assessed Blue Sky's share value as being in the range of $1.93 to $2.21.