Comvita board chairman Neil Craig is urging the company's shareholders not to sell their shares.

In a letter to shareholders Neil says investors must wait two weeks for a major announcement before making a decision.

The plea comes as Cerebos New Zealand Limited (Cerebos), a 100 per cent owned subsidiary of Singapore listed Cerebos Pacific Limited, is offering to buy all the Comvita shares for $2.50 each.

They are presently trading on the NZX at $2.72.

Neil is advising shareholders 'not to accept this offer and await the delivery of the ‘target company statement' to be dispatched to shareholders within 14 days from today.

'This document will include a report on the merits of the Cerebos offer prepared by the independent adviser, Grant Samuel.

'I remind shareholders that regardless of the current or any revised offer by Cerebos, if you intend to accept, there is no advantage in accepting early.

'Once lodged with Cerebos, you cannot withdraw and accept any better offer from a third party, should it emerge during the 45 day offer period.

'Shareholders should wait to read the ‘target company statement' including the Comvita independent directors' recommendation.

'The independent directors continue to explore options in response to the Cerebos offer.

'I also remind shareholders that after many years of careful planning and business, product and market development, we are now in a position to reap the rewards due to our loyal shareholders.”